Iranian president Ebrahim Raisi has announced plans to cut back bread subsidies as wheat prices soar globally and Tehran tries to steer an economy hard hit by US sanctions on oil exports.
The government will offer citizens digital coupons that will allow them to access a limited amount of bread at subsidised prices, while the rest will be available at market rates. The bread scheme will come into force in about two months. The scheme will later include other goods such as chicken, cheese and vegetable oil, officials have said.
In a live televised interview on Monday night, Raisi extolled the benefits of reforming a subsidy scheme that covers everything from oil to bread, costs up to $100bn a year and that many cash-strapped Iranians have come to rely on.