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Iran's budget tackles falling oil prices

Iranian President Hassan Rouhani's $294 billion budget for 2015 shows his government is willing to cut costs to compensate for falling oil prices, but makes no allowance for the absence of a nuclear deal with the West.

Iranian President Hassan Rouhani (C) arrives at parliament before presenting the proposed annual budget in Tehran on December 7, 2014. Iran's parliament has adopted a law on December 4, to tax religious foundations and military-linked companies, a first for the Islamic republic that could generate hundreds of millions of dollars in revenues, media reported. AFP PHOTO/ATTA KENARE        (Photo credit should read ATTA KENARE/AFP/Getty Images)
Iranian President Hassan Rouhani (C) arrives at parliament before presenting the proposed annual budget in Tehran, Dec. 7, 2014. — ATTA KENARE/AFP/Getty Images

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