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Saturday
Dec182010

Ahmadinejad: Iran Subsidies Cut at Midnight

Photo Courtesy - ABC News(TEHRAN, Iran) -- Iran's subsidy cuts will take effect at midnight, President Mahmoud Ahmadinejad said Saturday, immediately raising the price of fuel, electricity, and water and putting price pressure on a broad range of goods.

These cuts were slated to take effect months ago, but kept getting pushed forward to a previously unknown date.

Analysts and others have predicted protests and possible riots following the economic squeeze of the policy.

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ABC News Radio