Iranian President Masoud Pezeshkian announced on Saturday that the country requires around $100 billion in foreign investments to elevate its annual economic growth from 4% to 8%. In his first live interview on state TV, Pezeshkian stated the nation needs up to $250 billion to achieve this objective, but that it has the potential to source more than half of that domestically. Experts believe an 8% GDP growth could substantially lower the nation's inflation, which stands at more than 40%.
Pezeshkian addressed the impact of the international sanctions, which target various entities and individuals within Iran who are accused of supporting groups such as Hamas, Hezbollah, and the Houthis. He emphasized that inflation could come down "if we solve our problems with neighbors and the world." Pezeshkian also announced his first international trip to Iraq, followed by participation in the United Nations General Assembly meeting in New York on Sept. 22-23, where he aims to meet Iranian expatriates and encourage them to invest in Iran.
A reformist sworn in last month, Pezeshkian promised a softer rhetoric compared to his predecessor, Ebrahim Raisi, who led Iran to intensify its nuclear activities before his death in a helicopter crash in May. Since the US pulled out of a deal that could have shrunk Iran's nuclear program in 2018 and hit the country with additional sanctions, Iran's economy has struggled. Pezeshkian pledged during his campaign to revive the nuclear agreement to mitigate economic challenges and foster international relations. (This story was generated by Newser's AI chatbot. Source: the AP)
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