Iran’s government will start paying cash to individuals next week to help them cope with rising prices as it phases out subsidies for food and energy, Economy and Finance Affairs Minister Shamseddin Hosseini said.

About 60 million Iranians, or more than 80 percent of the population, have signed up for the program, which starts Oct. 7, Hosseini said in Tehran on Saturday.
He didn’t say how many people will qualify for compensation or how much they will receive.
“The accounts of Iranian families will be credited gradually,” Hosseini was cited as saying.
“They will see how much they are eligible for when they check their accounts.” Hosseini didn’t say when caps on food and energy products will be lifted or by how much.
The Persian Gulf country, hit by a fourth round of United Nations sanctions over its nuclear program, plans to phase out subsidies over five years.
(Source: Bloomberg)