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Economic Research

Iran: Follow the (Oil) Money

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Many view today’s Iranian parliamentary elections as a referendum on the tenure of President Ahmadinejad, especially the economic policy management. Despite its oil windfall -oil export revenues likely neared $69 billion - in the year starting last March - and Ahmadinejad’s populist promises, Iran suffers rising unemployment, inflation and slowing growth. There are questions about how the oil savings have been spent though.

But the election results are unlikely to prompt a foreign policy shift - almost all policy makers seem committed to Iran’s nuclear policy agenda, if not[...]

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