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All tagged austerity
◢ There is growing consensus that the core constituency of the recent wave of protests in Iran is working class youth who feel "forgotten" in the country's economic plan.
◢ The expected post-sanctions windfall has yet to materialize and the Rouhani administration will need to decide whether it will compromise on its austerity-type budgets in order to offer some near-term economic relief.
◢ To win foreign investment, Iran's needs to boost development expenditures. But expansionary fiscal policy will require a new source of revenue, as oil sales remain stagnant and tax rises remain politically risky.
◢ A sovereign debt sale, long discussed by Iranian officials, is the fundamental way Iran can find the revenues to self-fund growth. The Rouhani administration must focus on making its bond offering a reality.
