The World Bank Public Disclosure Authorized IRAN ECONOMIC MONITOR SEIZING THE OPPORTUNITY Public Disclosure Authorized March 2016 Global Practice for Macroeconomics & Fiscal Management MIDDLE EAST AND NORTH AFRICA REGION Public Disclosure Authorized The World Bank www.worldbank.org/lb Public Disclosure Authorized IRAN ECONOMIC MONITOR | SEIZING THE OPPORTUNITY PREFACE The Iran Economic Monitor provides an update publications, please contact Nada Abou Rizk on key economic developments and policies over (
[email protected]). For questions and the past six months. It examines these economic comments on the content of this publication, please developments and policies in a longer-term and contact Shahrzad Mobasher Fard (smobasherfard@ global context, and assesses their implications for the worldbank.org) or Eric Le Borgne (eleborgne@ outlook for the country. Its coverage ranges from the worldbank.org). Questions from the media can be macro-economy to financial markets to indicators of addressed to Mona Ziade (
[email protected]). human welfare and development. It is intended for a wide audience, including policy makers, business Cover Photo: Shah Emam Mosque – Isfahan / leaders, financial market participants, and the Mohammad Reza Domiri Ganji / gravity.ir. community of analysts and professionals engaged in Iran. The Iran Economic Monitor is a product of the World Bank’s Global Practice for Macroeconomics & Fiscal Management team. It was prepared by Eric Le Borgne (Lead Economist), Abdoulaye Sy (Senior Economist), Shahrzad Mobasher Fard (Economist), and Samer Matta (Economic Analyst) under the general guidance of Auguste Tano Kouame (Global Practice Manager). The Special Focus on the banking system was prepared by Michael Edwards (Lead Financial Specialist), and the one on the oil and gas sector by Hossein Razavi (Consultant).