Iran’s economy will likely deteriorate and face an austere budget in 2015 in comparison to 2104, when Rowhani’s administration managed to move Tehran out of a recession. According to the IMF, Tehran will need oil prices to be near $131 a barrel to cover its spending. Yet, Iran is will likely manage this economic challenge by applying some strategies such as cutting subsidies, increasing taxes and depreciating the foreign exchange rate. The good news from the perspective of the Iranian leaders will be an increase in exports and imports, particularly with Russia, China and some European countries thanks to the extension of the nuclear talks. The shift to use national currencies in foreign trade, instead of the dollar (for example with Russia with regards to food imports), will also facilitate bilateral trade.
Posted on: Sun, 04 Jan 2015 13:34:27 +0000
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