From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News.
It’s been a year since Iran signed its nuclear deal with major world powers – a reduction in its atomic capabilities in exchange for the lifting of economic sanctions.
President Hassan Rouhani promised economic prosperity, more jobs, more choice, lower prices and greater opportunities, but one year on, he is under pressure to deliver.
On paper, it has worked. The International Monetary Fund (IMF) is predicting 4.0-5.5 percent growth for Iran this year – a big increase on its pre-deal estimate of 1.5 percent.
But actual progress has been slow. Much was made of Iran’s return to the oil market, but with oil prices so low, the returns haven’t been great.
That resulted in a lack of confidence among Iranians about the future of their economy, and in many cases their business prospects too.
International firms are still hesitant about doing business in Iran, because of problems with the banking system, and the fact that not all sanctions have been lifted – just the nuclear-related ones.
So what has changed in Iran, and what has not changed in the past year? And why are Iranians less optimistic about their country’s economy than they were a year ago?
Counting the Cost talks to Abhishek Deshpande, the chief energy analyst at Natixis Bank in London, who explains what Iran has managed to achieve with the money it’s made since returning to the energy markets. We also speak to Andreas Schweitzer, who has been investing in Iran since 2009 through his business Arjan Capital. He discusses the challenges facing businesses (both Iranian and international) trying to establish themselves in the Iranian marketplace.