Iran’s President Masoud Pezeshkian expressed the country’s need for approximately $100 billion in foreign investments to achieve an annual growth target of 8%, a significant increase from the current 4% rate. During his first live televised interview by state TV, Pezeshkian highlighted the ambition of requiring up to $250 billion for this goal, with over half of the required amount being accessible through domestic resources. Economists suggest that achieving an 8% GDP growth would help alleviate double-digit inflation and unemployment rates.
These economic aspirations come amid existing challenges, as numerous entities and individuals in Iran, including the central bank, government officials, drone manufacturers, and money changers, face international sanctions, accused of aiding Iran’s Revolutionary Guard and foreign militant organizations like Hamas, Hezbollah, and the Houthis.
Pezeshkian voiced concerns about the impact of sanctions, emphasizing his administration’s focus on reducing the current annual inflation rate of over 40%, provided that diplomatic relations with neighboring countries and the global community improve. The President disclosed his intention to make his inaugural foreign visit to Iraq, followed by attendance at the United Nations General Assembly session in New York on September 22-23, where he plans to engage with Iranian expatriates to encourage investment in Iran. Among the 8 million Iranian expatriates worldwide, approximately 1.5 million live in the United States.
Seen as a reformist figure, Pezeshkian took office last month following the tragic helicopter crash in May that claimed the life of his predecessor, hard-line leader Ebrahim Raisi. Raisi had overseen Iran’s uranium enrichment activities, which escalated tensions after the US withdrew from the nuclear agreement in 2018 and imposed additional sanctions. Promising a more conciliatory approach at home and abroad, Pezeshkian pledged during his campaign to work towards reviving the nuclear deal.
