From currency stabilization to financing the budget deficit ▫ Oil, unlike many government sources of income, is finite wealth; Wealth that belongs not only to today's generation, but also to future generations. This feature caused the oil countries to create national wealth funds to manage the income from natural resources; Institutions that are supposed to protect the economy from fluctuations in oil prices by separating oil revenues from current government expenditures and keeping some of this wealth for the future. ▫ Iran also created a foreign exchange reserve account in 1379 with the same goal, and a decade later, established the National Development Fund with the mission of converting oil revenues into productive capital and maintaining intergenerational wealth. However, the frequent changes in laws, government perceptions and the budget's dependence on oil revenues have gradually increased the distance between the initial goals and the performance of these institutions. ▫ On the other hand, turning the National Development Fund into one of the sources of financing for local enterprises and reimbursing real for facilities in foreign currency created another challenge to maintain the value of its resources. The link of this program is in the mechanism.

From currency stabilization to financing the budget deficit ▫ Oil, unlike many government sources of income, is finite wealth; Wealth that belongs not only to today's generation, but also to future generations. This feature caused the oil countries to create national wealth funds to manage the income from natural resources; Institutions that are supposed to protect the economy from fluctuations in oil prices by separating oil revenues from current government expenditures and keeping some of this wealth for the future. ▫ Iran also created a foreign exchange reserve account in 1379 with the same goal, and a decade later, established the National Development Fund with the mission of converting oil revenues into productive capital and maintaining intergenerational wealth. However, the frequent changes in laws, government perceptions and the budget's dependence on oil revenues have gradually increased the distance between the initial goals and the performance of these institutions. ▫ On the other hand, turning the National Development Fund into one of the sources of financing for local enterprises and reimbursing real for facilities in foreign currency created another challenge to maintain the value of its resources. The link of this program is in the mechanism.