Macroeconomic Forecast Iran

On the back of our relatively bullish oil price forecasts - we see the OPEC Basket averaging US$83/bbl and US$85/bbl in 2010 and 2011 respectively - Iran's current account balance should remain in the black. We are forecasting surpluses of 5.4% and 4.3% of GDP in FY2010/11 and FY2011/12 respectively.

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