The subsidy cuts are expected to reduce spending by $50 to $60 billion for Iran, along to estimates by specialists.
This year's budget was calculated on the foundation of a fixed equality of the USD to 10
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The budget comprises of $162 billion for the government and $338 billion for the public sector, mostly state banks and companies.
TEHRAN (AFP) Iran has adopted a $484 billion allowance for the year to March 2012
walking shoes, an addition of 31 percent over the previous year, ashore the back of rising fuel prices and servant subsidy slits
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The bulk of the walk in the budget comes from a hefty cut in subsidies on energy products and several important commodities which was initiated by the end of 2010.
The government will, whatsoever, spend $38 billion in straight cash-handouts to partially recompense citizens for the scrapped subsidies.
Iran, OPEC's second largest crude exporter, is anticipated to pocket during the year oil revenues of $65 billion, up by 20 percent.
The congress adopted the budget afterward a delay of nearly two months on an mean crude oil price of 81.5 dollars a barrel.
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