Iran to cut cash handouts to millions to limit budget spending

Under former President Mahmoud Ahmadinejad, almost all of Iran’s 77 million people started receiving monthly cash payments to offset rising energy and food costs. Rouhani’s government has indicated it wants to introduce eligibility requirements in a bid to help revive an economy battered by sanctions over Iran’s nuclear program and 40 percent inflation. Sanctions were eased recently following a deal with world powers that imposed restrictions on Iran’s nuclear program.

Arsalan Fathipour, the head of parliament’s economy committee, put the estimated number of Iranians in need of the benefits at 15 million, the Shargh newspaper reported today.

Parliament yesterday approved the outlines of the draft budget Rouhani submitted in December, according to the legislature’s news website, which didn’t elaborate on the spending plan’s content.

By Bloomberg


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