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Iran to Increase Grants to Poorest Iranians, Tehran Times Says

Feb. 20 (Bloomberg) -- Iran’s government plans to increase the value of its cash handouts to the poorest Iranians to make up for price increases in energy and food, the Tehran Times reported, citing Economy Minister Shamseddin Hosseini.

The government is also looking to cancel cash handouts it distributes to some three million Iranian families, who it doesn’t consider to be needy, the Tehran-based newspaper said.

Iran is paying monthly grants of 455,000 rials (about $37) to 72.5 million Iranians, out of a population of 75 million, to offset price increases after the start of a plan in December 2010 to phase out energy and food subsidies, economy officials have said.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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