In this photo released by the Iranian Presidency Office, President Masoud Pezeshkian speaks in a live televised interview by state TV, at his office in Tehran, Iran, Saturday, Aug. 31, 2024. In this photo released by the Iranian Presidency Office, President Masoud Pezeshkian speaks in a live televised interview by state TV, at his office in Tehran, Iran, Saturday, Aug. 31, 2024.
Iran’s president said Saturday his country needs some $100 billion in foreign investment to achieve an annual target of 8% economic growth up from the current rate of 4%.Pezeshkian said Iran needs up to $250 billion to reach its goal but more than half is available from domestic resources. Experts say growth in GDP of 8% would reduce double-digit inflation and unemployment rates.
Hundreds of entities and people in Iran — from the central bank and government officials to drone producers and money exchangers — are already under international sanctions, many of them accused of materially supporting Iran’s Revolutionary Guard and foreign militant groups such as Hamas, Hezbollah and the Houthis.
Pezeshkian in his interview complained about the sanctions and said his administration plans to reduce inflation, which is running at more than 40% annually, “if we solve our problems with neighbors and the world.” He did not elaborate. Pezeshkian confirmed that his first visit abroad will be to neighboring Iraq and he would then fly to New York to attend the United Nations General Assembly meeting on Sept. 22-23. He said while he was in New York he would meet with Iranian expatriates to invite them to invest in Iran. Out of more than 8 million Iranian expatriates, some 1.5 million Iranian live in the United States.
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