BREAKING NEWS

Iranian president announces start to subsidy cuts

By ASSOCIATED PRESS

DECEMBER 18, 2010 21:39

TEHERAN, Iran — Iranian President Mahmoud Ahmadinejad on Saturday said a government plan to slash energy and food subsidies will start within the next few hours.

The government has described the plan for deep cuts in essential subsidies as the "biggest surgery" to the nation's economy in half a century.

Ahmadinejad made the announcement in an interview with state television.

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