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Iran Economic Monitor, March 2016 : Seizing the Opportunity

TOTAL REVENUE MONETARY POLICY RISKS CAPITAL MARKETS UNEMPLOYMENT RATES GOVERNMENT EXPENDITURES INTERGENERATIONAL EQUITY ECONOMIC GROWTH PRODUCTION PRICE INCREASES POLICY ENVIRONMENT ENVIRONMENTAL DEGRADATION STOCK INCOME INTEREST PROJECTIONS EXPECTATIONS MARGINAL COST MONEY SUPPLY PRODUCERS INTEREST RATE REAL GDP EXCHANGE FINANCIAL RESOURCES LABOR FORCE LIQUIDITY EXPORTS REVENUES FISCAL POLICY WELFARE RISK PREMIUM ECONOMIC IMPLICATIONS BONDS DEVALUATION MACROECONOMIC CONDITIONS DISTRIBUTION CAPACITY BUILDING EQUILIBRIUM VARIABLES MODELS SUBSIDY OWNERSHIP BENCHMARKS PAYMENTS WEALTH BANKRUPTCY ECONOMIC LOSS FREE TRADE INFLATION AUDITS ECONOMIC OUTLOOK CENTRAL BANK ECONOMIC ACTIVITY DEVELOPMENT EQUITY CAPITAL FISCAL POLICIES CONTRACTUAL ARRANGEMENTS INFLUENCE OIL PRICES TECHNICAL ASSISTANCE OIL CAPITAL GAINS EXOGENOUS VARIABLES MONEY EXPECTED RETURN OPEC NET EXPORTS MARKETS DEBT INFLATION RATE POTENTIAL OUTPUT ECONOMIC SIZE ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES TAX REVENUES INVENTORIES PARTIAL PRIVATIZATION NATURAL RESOURCES AVERAGING METALS TRADE POLICIES EFFICIENCY TAXES RESOURCES UNEMPLOYMENT ENERGY CONSUMPTION EQUITY CONSUMPTION HUMAN CAPITAL PROFITABILITY MEASURES VALUE ADDED OPPORTUNITY COST ECONOMIC IMPACT CAPITAL WAGES CLIMATE CHANGE INTERNATIONAL TRADE TRANSPARENCY UNEMPLOYMENT RATE VALUES MARKET PRICES VALUE POLICY MAKERS BENCHMARKING COMPETITIVENESS CREDIT MACROECONOMICS PURCHASING POWER ECONOMIC SECTORS DEMAND CPI MINES CONSUMERS AGRICULTURE ECONOMY EXPENDITURES
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World Bank, Washington, DC
Middle East and North Africa | Iran, Islamic Republic of
2016-06-03T20:13:45Z | 2016-06-03T20:13:45Z | 2016-03

Following the partial lifting of nuclear-related sanctions in November 2013 under the interim Joint Plan of Action (JPOA), Iran's economy rebounded in 20141 and is estimated to have expanded by 0.5 percent in 2015. A less accommodative monetary policy stance reduced inflationary pressures, with the Consumer Price Index falling to 8.9 percent in February 2016, from a peak of 45.1 percent in June 2013. Notwithstanding this positive development,the pace of job creation has remained weak and the unemployment rate rose to 11.7 percent in 2015, up from 10.6 percent in 2014. The fiscal balance of the central government also deteriorated, mostly due to low oil prices, from a deficit of 1.2 percent of GDP in 2014 to a deficit of 2.7 percent of GDP in 2015. Similarly, the current account surplus is estimated to have shrank from 3.8 percent of GDP in 2014 to 0.6 percent of GDP in 2015 due to falling oil receipts.

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