A US online newspaper predicted huge blossoming for the Iranian economy in the wake of removal of sanctions.
The Washington Free Beacon wrote “Iran’s economy is set to receive a substantial boost in the next two years as a result of billions in sanctions relief from the nuclear deal, according to a new forecast, a windfall that could also secure more resources for the Iranian military.”
Quoting a report by the World Bank, it said, “Iran’s GDP is projected to increase by 5.8 percent this year, compared to just 1.9 percent last year. Economic growth is then estimated to rise by 6.7 percent in 2017.”
The nuclear deal “opens the door for reintegration of [Iran] into the global economy and the reinvigoration of its oil, natural gas, and automotive sectors,” the World Bank said in its global economic prospects report, according to Washington Free Beacon.
“Sanctions could begin to be lifted in early 2016 if the International Atomic Energy Agency (IAEA) indicates the Iranian government has fulfilled its commitments under the pact,” the report continued. “Renewed optimism about the potential of the Iranian economy has already generated a flurry of investment interest by foreign companies.”