Economics
Key Facts About Iran's Economy as Red Carpets Replace Sanctions
- Budget based on $40 oil `optimistic,' says Tehran economist
- Government must do more to stimulate local businesses
Francois Hollande welcomes Hassan Rouhani in Paris on Jan. 28.
Photographer: Christophe Morin/BloombergThis article is for subscribers only.
Less than a fortnight after a decade of crippling economic sanctions on Iran ended, President Hassan Rouhani is being treated to red carpets, dinners with top CEOs and billion-dollar deals in Europe.
In Italy, accords worth $22 billion covered industries from natural gas to high-speed rail, while in France Rouhani is expected to purchase Airbus Group SE jetliners and seal manufacturing partnerships with PSA Peugeot Citroen and Renault SA. The speed with which the president traveled to Europe once July’s nuclear deal finally came into force underscored the depth of Iran’s economic problems.