Rouhani says Iran budget set to resist US sanctions by curbing oil dependence

President Hassan Rouhani speaks in a meeting in Tehran, Iran, Wednesday, Dec. 4, 2019. (AP)
  • Rouhani said the draft state budget was designed to resist US sanctions

TEHRAN: Iran鈥檚 President Hassan Rouhani on Sunday presented to parliament what he called a 鈥渂udget of resistance鈥� against crippling sanctions imposed by arch-enemy the United States.

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

鈥淭his budget announces to the world that despite sanctions we will manage the country, especially in terms of oil,鈥� 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 program.

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