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. So the draft budget partially loosens the conservative fiscal policy which Rouhani adopted after taking power in 2013. Taking into account inflation running at about 9 percent, next year's draft budget envisages roughly zero spending growth in real terms. As in past years, the draft budget shows spending and revenues in balance, although the actual result will depend on fluctuations in oil prices. The draft budget has to be passed by parliament and approved by a clerical body that vets legislation before it becomes law.

Source: Egypt Independent December 04, 2016 12:04 UTC