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10/06/12

Iranian Parliament Votes To Consider Subsidy Reform

Source: RFE/RL

Iran's parliament has voted to consider suspending plans for further reform to the country's food and fuel subsidies, with lawmakers citing the financial hardship caused by the country's currency crisis.


Iranian currencty's steep fall in the past 2 months

Subsidy reform has been the cornerstone of President Mahmud Ahmadinejad's economic policies.

The October 7 vote is seen as a blow to the president amid mounting criticism over his handling of the currency crisis, which has seen the value of the Iranian rial plummet.

Iran's ILNA news agency said 179 out of 240 lawmakers voted to consider halting the second phase of subsidy reform.

The government has pursued subsidy reforms as a way of easing pressure on state finances by cutting billions of dollars from the amount which the government pays to subsidize low consumer prices for food and fuel.

Based on reporting by ILNA and Reuters


Copyright (c) 2012 RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036. www.rferl.org


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