July 14, 2014 | Quote
Thank Obama For Iran’s Growing Economy
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The recovery of Iran’s economy is a good thing for the Iranian people that suffered a currency in free-fall, staggering inflation and a contraction of the country’s Gross Domestic Product. But at the same time, the economic sanctions that President Obama has credited with forcing Iran to begin these negotiations have appeared to lose their bite, according to the study that is scheduled to be released Monday.
“In 2012 and early 2013 Iran’s economy was on its back. As a result of the administration’s decision to deescalate sanction pressure, the economy has gotten onto its knees and is slowly getting back on its feet,” Mark Dubowitz, an author of the report and the executive director of the Foundation for the Defense of Democracies, told The Daily Beast Sunday.
Dubowitz and analysts from the Roubini Group—the consultancy formed by the often-prescient, sometimes controversial economist Nouriel Roubini—concluded for example that Iran’s GDP in 2014 and 2015 is expected to grow at 2 percent. That’s only modest growth—but it’s a huge improvement over Iran’s economic performance in the 2012/2013 fiscal year, when GDP contracted by 6.6 percent.
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