Iran's Rouhani unveils budget of 'resistance' against US sanctions

Iran's Rouhani unveils budget of 'resistance' against US sanctions

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, i24 reports.

Rouhani told parliament that the budget, which includes a 15 percent public sector wage hike, "is a budget of resistance and perseverance against sanctions". 

The 4,845 trillion rial ($36 billion at the current street rate) budget would "announce to the world that despite sanctions we will manage the country, especially in terms of oil," he added.

It would benefit from a $5 billion "investment" from Russia which was still being finalized, he said, without giving further details.

"We know that under the situation of sanctions and pressure, people are in hardship. We know people's purchasing power has declined," said Rouhani. "Our exports, our imports, the transfer of money, our foreign exchange encounter a lot of problems.

Rouhani said that despite the US sanctions his government estimated that Iran's non-oil economy would "be positive" this year.

"Contrary to what the Americans thought, that with the pressure of sanctions our country's economy would encounter problems, thank God we have chosen the correct path... and we are moving forward," he said.

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