NO. 37


Financial and Banking News

Economic Policy

Rafsanjani Treads Carefully On Subsidies Issue

President Ali Akhbar Hashemi Rafsanjani of Iran has been sending outconflicting signals on his government's plans to remove subsidies on basicgoods. His latest comment on the subject came at a 7 June press conference whenhe said that "subsidies cannot continue for ever," adding that thoseon bread, fuel and some medicines would be phased out by the end of the secondfive-year...