At the same time the economic impact of western sanctions is forcing the government to slash budget expenditures.
The Iranian parliament (Majlis) on 7 October approved a bill suspending the implementation of the second phase of the subsidies reform plan, with 179 deputies out of the 242 present voting in favor. According to Majlis Deputy Speaker Mohammad Reza Bahonar, the measure is intended to alleviate further economic pain caused by the Iranian rial’s depreciation to record lows against the dollar in the past two weeks. (CONTINUED - 835 WORDS)
