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From VOA Learning English, this is the Economics Report.
The nuclear deal between world powers and Iran is increasing hopes that the country’s struggling economy will show signs of recovery. The deal eases economic restrictions against Iran, but only if the country honors a promise to limit some of its nuclear activities. Iran agreed to suspend parts of its nuclear program in return for an easing of sanctions on gold, its automobile industry and on petrochemical exports. In Tehran, money traders are hopeful, even after seeing the value of Iran’s currency drop by 80 percent compared to the American dollar. One foreign currency dealer says the improved conditions are the result of the recent nuclear talks. Matthew Levitt is with the Washington Institute for Near East Policy. He says he thinks the average Iranian has high expectations for what the nuclear deal will mean for them. But, he says he thinks the agreement will mean very little for most Iranians in the weeks and months to come. Mr. Levitt says that could leave Iranian President Hassan Rouhani with a “crisis of rising expectations.” He says this may force the president to finalize a deal with other countries or find ways to blame the West for failing to reach a final agreement. However, it is not just Iranians who are hopeful. Plenty of foreign businesses are also starting to think about a country where experts say there is strong demand for American goods. Clif Burns is an expert on export law. He does not expect companies to be in a hurry to enter the Iranian market. But he expects them to be interested in Iran and looking at it. For now, American officials say nothing has changed and that the trade restrictions are still in place.
