TDN World desk: Iranian President Hassan Rouhani on Sunday announced a draft budget at about 4,845 trillion rials ($38.8 billion at the free market rate) for the next Iranian year which starts on March 20, 2020 to counter sanction imposed by US.

“Next year, similar to the current year, our budget is a budget of resistance and perseverance against sanctions,” Rouhani said adressing the parliament in Tehran on Sunday.

“This budget announces to the world that despite sanctions, we will manage the country, especially in terms of oil,” he added.

As tension between Iran and US escalated over Tehran’s nuclear program which the consider as illeagl, the country has suffered major economic crisis. In May, US has imposed sanctions to create “maximum pressure” over the oil-rich country. Iran has introduced this budget o “to resist sanctions … with the least possible dependence on oil.”The new budget will include a 15 percent raise in the wages of government employees.

Taking jibe at Israle and America Rouhani said, “Our enemies – the US and the Zionist regime – thought that with severe sanctions they would make the nation unable to build the country and the government impotent to enforce the law and budget, but they have been disappointed to this day and will continue to be so.”