Iranians get cash subsidy for Feb-March

Iran Materials 10 March 2012 12:59 (UTC +04:00)

Azerbaijan, Baku, March 7/ Trend M. Moezzi

The Iranian government has paid its citizens the money it owed for the February/March payments of cash subsidies, the Iranian Students' News Agency (ISNA) reported.

According to Iran's one-year-old targeted subsidies program, each citizen gets about$45 a month while eliminating subsidies for energy and commodities.

President Ahmadinejad announced an increase in the subsidies but the budget he proposed for next year was not approved by Iran's Majlis (parliament) before the end of the Iranian year on March 20.

The government was expected to save $54 billion per one year. Instead, it has had to borrow $6.5 billion from the Iranian Central Bank to make the cash payments to its citizens.