DUBAI: Iranian President Ebrahim Raisi approved on Tuesday the public budget for the Persian year which started on March 20, the semi-official ISNA news agency reported without elaborating. Raisi presented an upbeat state budget previously that aimed for 8% economic growth and increased crude oil sales of 1.2 million barrels per day (bpd) despite continued US sanctions.

Iran’s top budget official has said the fiscal plan for this Iranian year was drawn up on the assumption that the US sanctions would persist.