Iranian president targets stagflation in first budget
Iranian president Hassan Rohani said tackling inflation and boosting growth were the country's economic priorities as he presented an austerity budget, his first, to parliament on Sunday.
"Employment is the most important future issue for the economy but now the biggest problem is (tackling) stagflation," Rohani in a live address on state television. "The combination of stagnation and inflation over the past two years was unprecedented," he said. Iran's budget for the year starting in March 2014 tops $66 billion, calculated on an open-market exchange rate. (Reuters)
