...

Iran to offer new subsidies to compensate for increased flour price

Business Materials 5 May 2022 14:11 (UTC +04:00)
Iran to offer new subsidies to compensate for increased flour price

TEHRAN, Iran, May 5. The Iranian government to pay new subsidies to people in the coming days to compensate for the increased flour price, said the Minister of Agriculture Javad Sadatinejad, Trend reports citing ILNA.

"The decision to liberalize flour price was primarily to prevent corruption and direct subsidies paid to people will compensate the costs," he said.

He pointed out that it is a necessity to confront flour smuggling from Iran into neighboring countries.

According to the budget law for the current Iranian year (started March 21, 2022) the government will be obligated to directly pay subsidies to boost people's purchase power.

Following the rise of global food prices and conflict in Ukraine, the Iranian government seeks to maintain sustainable food security and has decided to liberalize the price of flour.

Tags:
Latest

Latest