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

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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.