20 April 2014 - 11:42
  • News ID: 215431
Subsidy Reform Continues Due to Ailing Economy

TEHRAN April 20 (Shana)--The administration of President Hassan Rouhani has to implement the second phase of subsidy reform plan due to the erroneous implementation of the first phase, first vice-president has said.

Es’haq Jahangiri said the first phase, implemented by former president Mahmoud Ahmadinejad, stoked up inflation and pushed the economy into stagnation.

He said Rouhani’s administration would not have implemented the second phase of subsidy reform plan had the first phase not brought about economic malaises like budget deficit.

“That is why the government decided to raise the prices of energy carriers at a steady pace,” said Jahangiri.

Under Ahmadinejad, subsidies were cut and Iranians were receiving monthly cash handouts.

News ID 215431

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