The Majlis approved an increase in government revenue from subsidy cuts from USD 44 billion to USD 53.8 billion for the current Iranian calendar year (which started on March 20). The decision will allow the government to raise energy prices and begin implementation of the second stage of the Subsidy Reform Plan. The Majlis Integration Committee had previously rejected the government’s proposal. The Majlis, however, did not endorse the committee’s decision and increased the government’s revenues. Ahmadinejad’s government presented the national budget draft bill for the current year to the Majlis on February 1 that included a proposal to increase revenues from subsidy elimination savings from about USD 44 billion to USD 110 billion.
Majlis members increase government revenues from subsidy cuts
- Published: 519 days ago on Tuesday, 15 May 2012
- By: Iran Daily Brief
- Last Modified: May 15, 2012 @ 2:49 pm
- Filed Under: Economy
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