BREAKING NEWS

Iran's Rouhani proposes budget rise as Trump election threatens growth

By REUTERS

DECEMBER 4, 2016 13:39

DUBAI - Iranian President Hassan Rouhani proposed on Sunday a state budget of about $100 billion for next year, loosening the purse strings to support economic growth as Donald Trump's election threatens to put renewed pressure on Tehran.

The US president-elect said during his campaign that he would scrap last year's nuclear agreement between Iran and world powers, in what would be a big blow to the Iranian economy just as it emerges from years of sanctions.

Rouhani announced a draft budget for the Iranian year that will start on March 21 of 3,200 trillion rials ($99.7 billion at the official exchange rate), excluding state enterprises. That is up 9 percent from the plan for the current year.

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