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Funds paid by Planning and Budget Organization of Iran announced

Business Materials 24 March 2020 15:28 (UTC +04:00)
Funds paid by  Planning and Budget Organization of Iran announced

BAKU, Azerbaijan, March 24

By Elnur Baghishov - Trend

The Iranian Planning and Budget Organization has paid 538 trillion rials (about $12.8 billion) in cash subsidies last Iranian year (began March 21, 2019), Mehdi Ghamsarian, Head of Center for Communication, Public Relations and International Affairs of Plan and Budget Organization wrote on his Twitter page, Trend reports.

According to Ghamsarian, the organization paid a cash subsidy of 455,000 rials (about $10.8) per capita.

The official added that the organization has paid an average of 27 trillion rials (about $642 million) per month in the last four months.

Ghamsarian said that the organization has also paid 600 trillion rials (about $14.2 billion) for renovations in past Iranian year.

The Iranian government will provide 428 trillion rials (about $10.1 billion) in cash subsidies from the current Iranian year's budget (began March 20, 2020), and 310 trillion rials (about $7.38 billion) will be allocated for household support.

Subsidies on a number of products have been abolished, and these funds are paid in cash to citizens in Iran. In addition, after the rise in gasoline prices in Iran in November 2019, funds are allocated to support citizens. On Nov. 15, 2019, the price of gasoline sold on quota increased from 10,000 rials (23 cents) to 15,000 rials (35 cents) and the price of gasoline sold free from the quota increased to 30,000 rials (71 cents) in Iran.

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