Iran government to stop giving cash subsidies to 24 mln people

Business Materials 27 May 2016 17:32

Tehran, Iran, May 27

By Mehdi Sepahvand - Trend:

Twenty-four million Iranians will no longer get monthly cash subsidies from the country's government, according to the government spokesman Mohammad Baqer Nobakht.

He said the decision to cut the subsidies follows a law by the parliament, noting that already three million people have been delisted from receiving subsidies, IRIB news agency reported May 27.

However, as Nobakht stated, the people that are to be delisted will be chosen among those with high incomes, and the government does not intend to do the same with the low-income people.

The official also said that every year the government pays 420 trillion rials ($13.8 billion) as cash subsidies.