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Iranian President Hassan Rouhani, however, has publicly committed himself to improving the livelihood of ordinary Iranians. Yet one year into his tenure, Iran continues to suffer from a host of short- and long-term issues. Between 2012 and 2013, for instance, Iran faced 40 percent inflation and an almost 6 percent contraction in GDP. Today, inflation still hovers around 25 percent and GDP is set to contract by another 3 percent by the Persian new year (March 2015). Ironically, of all policy areas, economic growth offered the Rouhani administration its greatest chance of success.The Rouhani administration so far has no plan to address these long-term problems.However, the administration freely admits that the monetary base expanded by 27 percent in the 2013-2014 fiscal year.Through repeated appeals to Shiite clergy for support over daily issues, Rouhani's team has inflicted long-term damage to the authority and effectiveness of economic institutions.A year into his tenure, Rouhani must reassess his economic policies and his economic team.
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