Iran’s President Masoud Pezeshkian stated on Saturday that the country requires approximately $100 billion in foreign investments to meet its ambitious economic growth target of 8% annually, up from the current 4%. Pezeshkian, who was elected in July and appeared on state television for the first time since his election, highlighted that achieving this target would require a total of up to $250 billion, with over half potentially sourced from domestic resources.
Experts believe that reaching an 8% GDP growth would help mitigate Iran’s severe inflation and unemployment rates. However, the country faces significant challenges due to international sanctions targeting various entities, including the central bank, government officials, and other groups accused of supporting Iran’s Revolutionary Guard and militant organizations.
During the interview, Pezeshkian expressed frustration over the sanctions and outlined plans to address the nation’s inflation, which exceeds 40% annually. He suggested that improving relations with neighboring countries and the international community is crucial for this goal but did not provide specific details on how this would be achieved.
Pezeshkian also announced his intention to visit Iraq and attend the United Nations General Assembly in New York on September 22-23. There, he plans to meet with Iranian expatriates, including the 1.5 million Iranians residing in the United States, to encourage them to invest in Iran.
The new president, a reformist, has pledged a more moderate approach compared to his predecessor, whose death in a helicopter crash in May led to Pezeshkian’s ascension. The Iranian economy has been under considerable strain since 2018, following the US withdrawal from the nuclear deal and the reimposition of sanctions. Pezeshkian has committed to reviving the nuclear agreement as part of his presidency.
