A money changer poses for the camera with a U.S dollar (R) and the amount being given when converting it into Iranian rials (L), at a currency exchange shop in Tehran's business district, Iran, January 20, 2016. REUTERS/Raheb Homavandi
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
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.While Iran's central bank predicts expansion of less than 3 percent in the current financial year ending March 20, it sees that accelerating to between 5 and 6 percent in the following 12 months. The government is targeting average annual growth of 8 percent up to 2020 .Iran has been trying for years to diminish its reliance on oil revenue. The government expects 680 trillion rials ($22.6 billion) in oil revenue, less than 25 percent of the proposed budget and down from about 33 percent in the current year. Europe had been Iran's second-biggest oil customer before sanctions were introduced, purchasing nearly 600,000 barrels a day from the Middle East nation in 2011, according to the U.S. Energy Information Administration.
FOLLOW THIS ARTICLE