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With the prospect of international sanctions on Iran being lifted – or at the very least eased – in the wake of the Lausanne nuclear agreement between Iran and the P5+1 group of world powers, Tehran will now need to address a host of structural deficiencies both in its economy and beyond, if it has any hope of realizing the potential benefits on offer.
On the back of more than three decades of isolation from world markets, and punishing western sanctions on its oil and financial sectors since 2012, the country’s political and economic leadership will need to put in place reforms aimed at streamlining the economy, and in turn attracting foreign capital.
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