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Iran gov't to improve livelihood of more than 3 million households

Business Materials 10 July 2020 14:00 (UTC +04:00)
Iran gov't to improve livelihood of more than 3 million households

TEHRAN, Iran, July 10

Trend:

Iran Minister of Cooperatives, Labor and Social Welfare said that the government has taken more serious and effective steps to improve the living standards of more than 3.5 million families including retired, salaried and wage-earning people (over 10 million people) covered by the Social Security Organization.

Mohammad Shariatmadari announced the new decision made by the government to repay the part of the government's debt to national Social Security Organization, Trend reports citing IRNA,

“This decision has been made amid escalating sanctions, devaluation of the national currency [rial] and reduction of foreign exchange earnings,” the minister said.

On July 8, the Iran's cabinet of ministers approved the proposal of the Ministry of Cooperatives, Labor and Social Welfare to transfer $7.6 billion worth of shares of several state-owned companies to the Social Security Organization in exchange with the government's debts to the organization.

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