Iran has sought USD 100bln in foreign investments in order to boost the national economy. Iranian President Masoud Pezeshkian recently said that his country would require the amount to achieve an annual target of 8% economic growth from the current 4%. …
Iran has sought USD 100bln in foreign investments in order to boost the national economy. Iranian President Masoud Pezeshkian recently said that his country would require the amount to achieve an annual target of 8% economic growth from the current 4%.
In his first live televised interview to the State TV of the Islamic Republic, President Pezeshkian stressed that Iran would need USD 250 billion to reach its target, adding that more than half of this amount was available from domestic resources. According to the President, he discussed the issue with experts who opined that a GDP growth of 8% could reduce the double-digit inflation and unemployment rates in Iran.
At the same time, the Iranian President admitted that it would be a difficult job, as economic sanctions imposed on his country by the US and its Western allies have turned out to be the main hurdle. The sanctions hit hard the Central Bank, Government officials, drone producers and even money exchangers. Earlier, the US claimed that these entities were materially supporting Iran's Revolutionary Guard and foreign militant outfits, including the Palestinian Hamas Movement, Hezbollah and the Houthis. President Pezeshkian stated that his administration would try its best to reduce inflation that stood at 40%. "If we solve our problems with neighbours and the world," he added.
Iranian economy has been struggling a lot since 2018 when then-US President Donald Trump pulled his country out of the deal to constrain Tehran's nuclear programme. He also imposed more sanctions on the West Asian nation. During his presidential campaign, Pezeshkian said that he would try to revive the nuclear deal.
Meanwhile, the Iranian President visited neighbouring Iraq before arriving in New York to attend the UN General Assembly meeting on September 22-23 (2024). In the US, he met Iranian expatriates and invited them to invest in Iran. It may be noted that 1.5 million of the Islamic Republic's more than eight million expatriates live in the US.
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