EconomyIran

Islamic Iran’s electricity exports up by 24%

The Iranian Energy Ministry has announced that the country has exported more than 6,000 gigawatt hours (GWh) of electricity to its neighbors in the past nine months.

The ministry says this reflects a 23.75 percent growth over the same period last year, attributing the hike to the implementation of the government’s subsidy reform plan.

Iran’s electricity network is linked to the power grids of seven neighboring countries, including Afghanistan, Pakistan, Iraq, Turkey, Armenia, Azerbaijan, and Turkmenistan.

The subsidy reform plan has enabled the Iranian government to gradually reduce energy subsidies over the course of five years, with low-income families compensated with direct cash handouts.

The initial stage of the plan was implemented in October of last year when the Iranian administration deposited cash payments into bank accounts of eligible heads of households.

The International Monetary Fund has commended Tehran on its early accomplishments in cutting energy and food subsidies without triggering higher prices to fuel inflation.

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