Iranian President Hassan Rouhani attends a session at the Iranian parliament to present the draft budget for the next Iranian fiscal year in Tehran, January 17, 2016. REUTERS/President.ir/Handout
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Iran needs annual foreign investment of $30-$50 billion to reach an eight percent growth target and cash in on a nuclear deal with world powers, President Hassan Rouhani said Sunday.Despite global prices falling below $30 Iran intends to increase production after the nuclear deal to recoup lost market share.Even at that level Iran's budget would be less than 25 percent reliant on oil sales, with a much higher 68 percent of revenues coming from taxes.Iran's budget had been ready and printed for weeks, but Rouhani decided not to present it until the nuclear deal was implemented because it was based on sanctions being lifted.
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