TEHRAN: Despite the fact that one year of nuclear talks has yet to result in the lifting of sanctions against Iran, Iranian President Ebrahim Raisi's government has faced numerous hurdles in improving the country's lagging economic indicators.
Anti-Iran sanctions have had a substantial impact on Iran's economic growth since former US President Donald Trump withdrew from the 2015 nuclear deal in 2018 and imposed new and old penalties on Tehran, mainly in the energy and finance sectors, according to reports.
Following the election of Iranian President Hassan Rouhani in the summer of 2021, Raisi promised to implement policies that would reduce the burden of sanctions while also using diplomacy to lift sanctions through the Vienna talks.
Tehran and world powers have been close to reviving the 2015 nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), but the international talks are currently in shaky waters, with the removal of Iran's Islamic Revolution Guards Corps from the terror blacklist thought to be a major sticking point.
In a recent article published by the official IRNA news agency, economic analyst Hooman Hosseini stated that Iran's poor output, high inflation, and oscillations in economic growth are primarily due to chronic economic mismanagement.
Price manipulation, seeking economic advantages within previous governments, a weak banking system, and underdeveloped financial institutions are among the key factors holding back Iran's economic growth, he said, adding that sanctions have exacerbated some of these trends and pushed back much-needed reforms.
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