Iran is the only country in the world where 20% of the annual GDP ($100 billion) are spent on energy consumption subsidies, the vice president of Iran Electrical Industry Syndicate said.
“As long as the key electricity and energy sectors receive the massive funding, they cannot develop as expected,” Barq News also quoted Payam Baqeri as saying.
Put it simply, if the annual $100 billion subsidy had been invested in the sectors over the last few years, infrastructures would have been much more developed now.
“Spending the huge funding in the form of subsidy has been a recipe for disaster,” he added.
July 27, 2021 19:12
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Energy Subsidies Hindering Electricity Sector Growth
Close to 5,000 MW of new electricity generation capacity were to be added to the national grid per annum in the last seven years, but less than 2,000 MW have been added each year
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