Gov’t to Allocate $3.4b to Offset Impact Of Non-Subsidized Forex on Food Import

The government has allocated 1,000 trillion rials ($3.4b) to help compensate the elimination of subsidized foreign currency in the 2022-23 budget.
Scrapping the controversial forex subsidies is one of the critical issues in the next budget submitted to the parliament by President Ebrahim Raisi on Sunday.
As per the bill, the government will give this amount “to offset price rises of basic goods, pharmaceuticals, bread and guaranteed-purchase of wheat”, local media reported.
The much talked-about move should put a permanent end to the yearslong debate on whether or not to end the increasingly costly and corruption-tainted subsidy policy.