Tehran, IRNA – The Central Bank of Iran (CBI) has allocated $1.1 billion for importing medicine, baby formula and medical equipment in the three months to late June.

CBI's Monetary and Banking Research Institute said on Monday that nearly $3.5 billion will be earmarked to imports of medicine and medical equipment and powdered milk in the current Iranian calendar year (starting March 21).

It said the CBI had allocated $1.1 billion of that figure in the quarter to June 21. 

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