Iran this week announced a “resistance budget” for the 2020-21 fiscal year. This aims to drastically reduce reliance on oil revenue in order to withstand US sanctions which have crippled the country’s oil export volumes and earnings.
Unveiling the draft budget for the year from 20 March 2020, President Hassan Rohani says the budget aims to finance all current spending from non-oil revenue: any oil revenues will be used exclusively for development projects. (CONTINUED - 1092 WORDS)
