Iran Says 800,000 Citizens Could Lose Handouts as Sanctions Bite

(Bloomberg) -- As many as 800,000 Iranians are set to lose cash handouts within the next month as U.S.-imposed sanctions take their toll on the Islamic Republic’s economy.

Iran plans to wean up to 30 million people off cash subsidies in the long term, but it “cannot take them off under the current economic situation,” said government spokesman Ali Rabiei at a news conference in Tehran.

Read More: Iranian Lawmakers Reject Framework of Rouhani’s New Budget

Seventy-eight million of Iran’s more than 80 million citizens receive cash subsidies, state-run ISNA cited Akbar Izadi, head of the state-run Organization of Targeted Subsidies, as saying in June.

Read: No Iran Sanctions Relief Without Behavior Change: U.S. Official

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