Does Iran Really Spend 30 Percent of Its GDP on Energy Subsidies?

Monday, 20 December 2010 05:40
That doesn't seem quite right. But the NYT reported that Iran's president, Mahmoud Ahmadinejad, claimed that the country spends $114 billion a year on energy subsides. This would imply that the country spends almost one-third of its GDP on energy subsidies. That doesn't seem plausible.