Rouhani: New budget will not depend only on oil

Iranian President Hassan Rouhani (pictured) stated on Sunday that his government's new budget is structured to avoid dependence on oil revenue and help the country overcome the sanctions the United States had imposed on its economy.

Iranian President Hassan Rouhani (pictured) stated on Sunday that his government's new budget is structured to avoid dependence on oil revenue and help the country overcome the sanctions the United States had imposed on its economy.

A $5 billion loan deal with Russia is being completed, Rouhani told in a speech in Parliament.

The new budget is scheduled to kick in on March 20, 2020, and is estimated to stand at approximately $40 billion, representing a 10% increase compared to the current fiscal year.

Rouhani: New budget will not depend only on oil

Rouhani: New budget will not depend only on oil

dependence revenue oil revenue avoid dependence on oil revenue United States had imposed on its economy