Parliament approved President Mahmoud Ahmadinejad’s 2010-11 budget on Monday, state radio reported, but some lawmakers criticized the plan, saying planned cuts in subsidies could set off runaway inflation. A senior official has said the government projects revenues of about $60 billion in the new fiscal year, which begins March 21, resulting in a $6 billion deficit. The budget would phase out subsidies on food and energy, which analysts say could send inflation spiraling back to 30 percent...
Full Story: The New York Times
