Tuesday, November 16, 2010

Subsidy Removals to Begin Next Week

Informed sources in Tehran are indicating that the first phase of the removal of the government subsidies will begin on Monday 22 November (1 Azar 1389). The official government announcement is expected on that day.

Meanwhile, in preparation for subsidy removals, the government announced today that it will deposit the second monthly payouts of $40 in the accounts of 60 million eligible Iranians (80% of the population) on 22 November. The government is estimating that the cash handouts will cost the country's treasury $12 billion during the last five months of the current Iranian calendar year (ending 20 March 2011).

No comments: