MENA Quarterly Economic Brief, July 2015
MENA Quarterly Economic Brief, July 2015

Author: Shantayanan Devarajan

Publisher: World Bank Publications

Published: 2015

Total Pages: 46

ISBN-13: 1464807027

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Iran and the Permanent Members of the UN Security Council and Germany (P5+1) reached a deal on July 14, 2015 that limits Iranian nuclear activity in return for lifting all international sanctions that were placed on Iran (Box 1). This issue of the MENA Quarterly Economic Brief (QEB) traces the economic effects of this development--removing sanctions on Iran--on the world oil market, on Iran's trading partners, and on the Iranian economy.

MENA Quarterly Economic Brief January 2016
MENA Quarterly Economic Brief January 2016

Author: Shantayanan Devarajan

Publisher:

Published: 2016

Total Pages: 30

ISBN-13:

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The July 2015 nuclear deal between Iran and Permanent Members of the UN Security Council and Germany (P5+1), with the attendant lifting of sanctions on Iran, will have significant consequences for the global, regional and national economies. First, Iran's return to the oil market, coupled with increased production from Libya (should the conflict subside) will keep world oil prices low. Secondly, once sanctions and restrictions on financial transactions are relaxed, Iran's trade, which had both declined in absolute terms and shifted away from Europe towards Asia and the Middle East, is likely to pick up. Thirdly, the Iranian economy, which has been in recession for the past two years, will receive a major boost from increased oil revenues--conservatively estimated at about USD 15 billion in the first year--and lower trade costs. This issue of the MENA Quarterly Economic Brief (QEB) traces these effects on the world oil market, on Iran's trading partners, and on the Iranian economy.