Iran's revenue from removing subsidies reaches $60bln
Azerbaijan, Baku, August 16 /Trend/
The Iranian government's revenues from removing subsidies during the past 8 months are less than $60 billion, Mehr News Agency reported, quoting Economy Minister Shamsoldin Hosseini.
"The International Monetary Fund announced Iran's revenue from implementing subsidy removals as totaling $60 billion. However, our calculations indicate that revenues were less than $60 billion", he said.
The Iranian government expected to economize $54 billion by removing subsides during this Iranian calendar year. Half of the figure will be transferred to citizens' bank accounts to compensate for the subsidy removal.
Thirty percent will be assigned to industry and construction sectors and 20 percent will be transferred to government bank accounts for common expenses.
Meanwhile, the government said that it transferred $21 billion during the first half of the year to citizens' bank accounts. President Mahmoud Ahmadinejad had to borrow $5 billion from the Central Bank of Iran to transfer to citizens' bank accounts.