Last Update 22:46
Thursday, 24 October 2019

Iran doubles price of bread with subsidy cut

Iran is withdrawing middle class subsidies by cash transfers to the poor, a step that

AP, Wednesday 22 Dec 2010
Iran fuel
Iran alters food and fuel subsidies with cash transfers (Photo : Reuters)
Share/Bookmark
Views: 1466
Share/Bookmark
Views: 1466

Iran's government has slashed subsidies on food, doubling the cost of bread in order to ease pressure on an economy straining under international sanctions.

Mohammad Reza Farzin, the program's spokesman, told the state news agency Monday that the government is paying 80,000 rials ($8) to each Iranian national for a period of two months to compensate for the increase in bread prices.

Prices for subsidized fuel quadrupled on Sunday as part of a new economic plan to reduce costs.

The government has described the plan as the "biggest surgery" to the nation's economy in half a century.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.