Volume. 11904

Iran’s subsidy budget set at $25.4b
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TEHRAN – The Iranian administration has increased the budget for the subsidy reform plan to 630 trillion rials (about $24.5 billion), compared to the current figure of 500 trillion rials, Iranian government spokesman Mohammad-Baqer Nobakht said on Wednesday.
The administration submitted a bill to the parliament on Wednesday to be ratified.
The bill has envisaged the allocation of at least 100 trillion rials to the production sector and 120 trillion rials to the health sector.
The bill has also stipulated for considering special taxes in cities with over one million people for combating air pollution, Nobakht said.  
The subsidy reform plan pays 45,500 rials (about $18 based on the U.S. dollar official exchange rate of 24,800 rials) to Iranians, eliminating subsidies for fuels and some commodities.

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