Iran Uses Sovereign Wealth Fund to Stabilize Stock Market

TEHRAN ( Iran News ) – The Iranian government said it will put aside one percent of the country’s sovereign wealth fund to stabilize the stock market which has fallen for consecutive sessions in recent weeks. The capital injection was announced by government spokesman Ali Rabiei on Tuesday, Press TV reported. Iran’s National Development Fund, a rainy-day fund, was established in 2011 to collect some of the proceeds from the country’s oil and gas industries for the benefit of future generations