President Rouhani presents Iran budget, says US sanctions to hit lives, growth

President Hassan Rouhani presented an annual state budget of 4,700 trillion rials ($47 billion at the free market rate) to parliament on Tuesday, saying US sanctions would affect Iranians` lives and growth but not bring the government to its knees.

"America`s goal is to bring Iran`s Islamic system to its knees... and it will fail in this, but sanctions will no doubt affect people`s lives, and the country`s development and economic growth," Rouhani told parliament in a speech carried live on state television.

He gave the value of the draft budget at about 4,700 trillion rials for the next Iranian year which starts on March 21, 2019.