Iran's Economic Revival: $100 Billion Foreign Investment Required

Iranian President Masoud Pezeshkian stated that Iran needs $100 billion in foreign investment to achieve its 8% economic growth target, up from the current 4%. He emphasized reducing inflation and sanctions while planning visits to Iraq and the UN. Economic challenges stem from sanctions and exiting the nuclear deal.

In a live televised interview, Iranian President Masoud Pezeshkian revealed that Iran requires $100 billion in foreign investment to achieve its ambitious annual economic growth target of 8%, up from the current 4% rate.

Pezeshkian, who took office in July, stated that while the country needs up to $250 billion to meet its goal, more than half could be sourced from domestic resources. Economic experts note that achieving this growth could help reduce Iran's double-digit inflation and unemployment rates.

The president lamented the impact of international sanctions on Iran, with numerous entities and individuals, including the central bank and government officials, already facing restrictions. Pezeshkian emphasized the need for improved relations with neighbors and the international community to curb the over 40% inflation rate.

(With inputs from agencies.)