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Iran to stop cash subsidies to millions of citizens

Ali Mohammad Ahmadi, a member of the Iranian parliament's planning and budgetary committee, has said the government will stop paying monthly cash handouts to citizens who don't need the aid, Bloomberg has reported. The change will be implemented in the new Iranian year starting March 21 and will appear in the budget draft that President Hassan Rouhani's government plans to submit by December 21, said Ahmadi. Iran started a five-year plan in 2010 under former President Mahmoud Ahmadinejad's government, phasing out energy and food subsidies and replacing them with cash payments to make up for rising costs.