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Why the Iran nuclear deal is an economic breather

November 29, 2013 11:00 IST

Why the Iran nuclear deal is an economic breather

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BS Bureau

Recently, Iran and western powers signed a deal in which it was agreed the West Asian nation would scale down its nuclear programme in exchange for a cut in economic sanctions.

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Image: Iranian workers stand in front of the Bushehr nuclear power plant.
Photographs: Reuters
Tags: Iran

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Why the Iran nuclear deal is an economic breather

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For western powers, the deal is a way to stop Iran from acquiring nuclear weapons.

For Iran, it's a lifeline for its beleaguered economy. The UN sanctions have severely restricted Iran's economic space.


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Photographs: Reuters
Tags: Iran , UN

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Why the Iran nuclear deal is an economic breather

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The country's GDP contracted for the first time in over a decade in 2012 and inflation soared to a record high.

In the last several years, Iran's GDP grew at a CAGR of 2.3 per cent, a sharp contraction from 6.6 per cent growth recorded during 2002-07.


Photographs: Reuters
Tags: GDP , Iran , CAGR

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Why the Iran nuclear deal is an economic breather

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Potentially, Iran remains one of the largest economies in the region with an investment rate comparable to that of India and rivalling that of Turkey, which has become one of the most attractive investment destinations in the region.




Photographs: Reuters

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