Economic Questions and Answers

With the election of Hassan Rouhani as president in 2013, a significant portion of public opinion in Iran hoped that the solutions and promises outlined in his program would lead to a considerable reduction in the country's economic difficulties. About two years later, in July 2015, the signing of the Joint Comprehensive Plan of Action (JCPOA) increased this hope. Despite the failure of the eleventh government to end the economic constraints, it was expected that with the start of Hassan Rouhani's second term in August 2017, he would have a greater opportunity to implement fundamental reforms aimed at breaking the deadlocks. The JCPOA broke a significant part of the ice of nuclear sanctions, oil exports returned to normal conditions, foreign economic delegations headed to Tehran, and most importantly, the president presented a coherent economic program aimed at implementing reforms in the country. However, shortly after the start of the twelfth government, the hopes for transformation in Iran's economy once again collapsed. Hassan Rouhani's second term fell into stagnation, and the routine of daily life replaced reforms. On the other hand, the fundamental change in the U.S. Republican government's policy regarding the JCPOA once again cast significant uncertainties over the international economic landscape of Iran. What is the current status of the country's macroeconomic indicators, from growth rates to inflation and foreign trade? What transformations are various markets in the country, from currency and stocks to real estate and gold, undergoing? Is it still possible to implement economic reforms in the political and social atmosphere of Iran? What is the international economic environment of Iran like, and where is it heading? These questions, and others like them, are still being raised in economic and expert circles as well as in public opinion today. Users of Radio Farda can also share similar questions with us. We have asked Fereydoun Khavand, an economic analyst, to answer these questions. At the same time, we hope that this initiative will facilitate dialogue among Radio Farda users on the most important economic issues in Iran. Mr. Khavand's responses to your questions will be published next month. Fereydoun Khavand is an economist, economic analyst, and professor of economics in Paris, France.