Gasoline consumption in Iran fell by 14 percent in early January as Iranians began to adjust to rising costs of living, following the government’s decision to cut its subsidies for fuel, basic food items and electricity. To cushion the impact of the decision on citizens, the government has introduced a scheme that would pay USD40 to every citizen per month. A number of analysts have said other Middle Eastern countries can learn from Iran’s handling of the subsidy reduction plan, with at least one expert explaining that countries in the region would have to eventually phase out their fuel and food subsidies.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
