Middle East Economic Survey
Government Gauges Impact Of Fuel Subsidy Cut
Iranian Deputy Economy Minister Mohammadreza Farzin told AFP on 3 January that the decision of the government to gradually phase out its fuel subsidies is paying off. On 19 December President Mahmoud Ahmadinejad raised the cost of subsidized gasoline from IR1,000/liter to IR4,000/liter (roughly 40 cents/liter). For any sales above the subsidy limit of 60 liters/month the cost was...