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Iran pulls back on subsidizing import exchange rate

Wednesday, 24 April 2013

The Ministry of Industry announced that it will no longer provide subsidized foreign currency rates to any imports except wheat, barley, corn and soy. All other imports will have to be negotiated at the market exchange rate for foreign currencies. The Iranian government had prioritized a number of goods and provided foreign currency at a subsidized rate for imports, including medical drugs and major food necessities. The list has been changing in recent months to include fewer and fewer items as the public is faced with an ever-growing inflation rate.

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  • Published: 87 days ago on Wednesday, 24 April 2013
  • By: Iran Daily Brief
  • Last Modified: April 24, 2013 @ 1:44 pm
  • Filed Under: Economy
  • Tagged with:
  • Source(s):
    • http://www.payvand.com/news/13/apr/1151.html

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