Iran plans to raise cash subsidies

TEHRAN,Dec.28 (MNA)--The Iranian administration decided to ramp up cash subsidies to the public in the second phase of implementing the Subsidy Reform Plan, the deputy economy minister Mohammad-Reza Farzin stated. Policies for the second phase of the plan have been adopted in a way that they will prevent (rising) inflation and harming the production sector, he added. Farzin had said earlier that there is no shortage in the budget related to paying subsidies. So, cash handouts will be continued by the end of the year. If the government does not change prices based on the subsidy reform plan, it will face around $54 billion budget deficit, he noted.