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Iranian president Rouhani presents austerity budget to parliament

By REUTERS

DECEMBER 8, 2013 08:42

DUBAI - Iranian president Hassan Rouhani said tackling inflation and boosting growth were the country's economic priorities as he presented an austerity budget, his first, to parliament on Sunday.

Inflation has soared in the last few years, a trend analysts say is due to increasingly tough economic sanctions and fiscal mismanagement by former president Mahmoud Ahmadinejad.

"Employment is the most important future issue for the economy but now the biggest problem is (tackling) stagflation," Rouhani in a live address on state television.

"The combination of stagnation and inflation over the past two years was unprecedented," he said.

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