Iran's nuclear program will obviously demand most of the media's ink, however there's a fascinating budgetary battle raging in the Majlis over domestic energy subsidies:
Based on the 347-billion-dollar budget, the government plans to start a major plan to scrape costly energy and food subsidies thus reducing government expenditure.However, earlier in March, lawmakers wrapped up 14 long sessions of debate and passed the much anticipated budget bill, permitting the government to eliminate USD 20 billion worth of subsidies â?? half of the amount requested by President Ahmadinejad.
The Guardian Council also approved "the amendments to next year's budget bill sent by Parliament."
Recalling the Leader's support for the government, Rassai criticized Speaker Ali Larijani, who had said that "parliament would not reconsider the approved budget bill."
Lawmaker Sobhaninia also urged Parliament to support the government.
President Ahmadinejad believes a referendum is the best solution to ending the dispute over the proposed economic reform plan.
For a good primer on the subject, check out Katie Engelhart's Maclean's piece from last month.
UPDATE: Jamsheed and Carol Choksy also wrote a good piece on Iran's economic predicament for our own RealClearMarkets earlier this year.
(AP Photo)
