Iran targets financial support plan known as subsidy reform plan

(MENAFN)Some 320 trillion rials (USD7.61 billion) of the revenues earned from the government’s subsidy reform plan were set for supporting domestic production in this Iranian year, according to managing Director of Iranian Organization of Targeted Subsidies.

Omid Hajati stated that the priority for the allocation of the stated resources are set to be for development projects and export-oriented production units, mentioning the requirement to support production and recover the employment of youth in the year of “Production: Support and Elimination of Obstacles” that was named by the Leader of the Islamic revolution Seyed Ali Khamenei.

The Iranian targeted financial support plan also known as the subsidy reform plan, and was passed by the Iranian parliament on January 5, 2010.

The government called the subsidy plan as the "biggest surgery" to the nation's economy in half a century and "one of the most important undertakings in Iran's recent economic history".

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