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FARIBORZ SAREMI – Iran’s Economy

For quite some time the Iranian people have had to endure major hardships resulting from an ailing Iranian economy, internal political bickering and most importantly harsh international sanctions applied by the US and its allies. However, a new sense of hope and optimism was engendered by the election of Rouhani to president in June 2013 and the promise that a new era of international cooperation and with it economic prosperity. Any progress, nevertheless, is dependent on how well Rouhani is able to negotiate the tricky machinations of the Iranian political system in which some factions would have much to lose from his success..

Iran is in a good position to revive its economic strength. The population is young, well-educated and hungry for success. The country possesses vital energy resources, a promising technology sector and a vibrant and growing mercantilist tradition. Moreover, Iran has developed into a geo-politically important player in the region. This makes Iran attractive for foreign investment, especially if Iran invests prudently in education, health care, infrastructure and technology to make the most of growing middle class optimism and initiative.

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