Iran unveils budget of 'resistance' against US sanctions

Iran unveils budget of 'resistance' against US sanctions

Iranian President Hassan Rouhani said the budget reflected
Iranian President Hassan Rouhani said the budget reflected "perseverance against sanctions".

TEHRAN: Iran's President Hassan Rouhani on Sunday presented to parliament what he called a "budget of resistance" against crippling sanctions imposed by arch-enemy the United States.

"Next year, similar to the current year, our budget is a budget of resistance and perseverance against sanctions," Rouhani told parliament in remarks broadcast on state radio.

"This budget announces to the world that despite sanctions we will manage the country, especially in terms of oil," he added.

The budget for the financial year starting late March 2020 comes after fuel price hikes that were imposed in mid-November triggered deadly demonstrations across the Islamic republic.

In his speech, Rouhani announced a 15 percent increase for public sector wages in a country whose economy has been battered by US sanctions.

US President Donald Trump began imposing punitive measures in May 2018, after unilaterally withdrawing from an accord that gave Iran relief from sanctions in return for limits on its nuclear programme.

The International Monetary Fund has forecast that Iran's economy will contract by 9.5 percent this year.



Do you like the content of this article?
COMMENT (1)

Meeting planned for more coronavirus measures

Public Health Minister Anutin Charnvirakul will meet high-ranking officials from three ministries to come up with measures to stop the spreading of coronavirus from China.

20:23

Four senior cops shifted after Roi Et pub raids

ROI ET: Four senior police from Muang police station have been transferred following a raid on two popular pubs where more than 200 patrons were underage drinkers.

20:11

'Cyber landfills'

Huge amounts of fossil fuels are burned to keep data centre servers up, running and cool. But most of what they store is data that will never be used, like your 10-year-old emails.

18:47