Growth Depends on Dealing with Energy Imbalance: Iranian President

Iranian President Masoud Pezeshkian said that the country’s energy imbalance should be resolved otherwise 8% economic growth will be out of reach.

In his first televised interview on Saturday evening, the president made the remarks adding that in addition to energy imbalance and environmental problems, several social groups such as wheat farmers, nurses, teachers, and retirees also have problems that need to be solved.

The president quoted the experts and economists as saying the country needs US$200 billion to US$250 billion of investment to achieve 8% economic growth.

He said the country’s total available money for investment is not more than US$100 billion; so, at least US$100 billion of foreign investment is needed to achieve the target.

He stated: I don't want to criticize the past performance but I believe that we should join hands and move forward with unity. To attain the 8% economic growth, we should let the elites, investors, and producers express their capabilities. Similarly, we should try to appoint the deputy ministers and the managers of the executive bodies, as well as the governors based on meritocracy, not their group and factional affiliation.”, he said.

The president announced expanding foreign relations as one of the government's solutions to curb inflation noting we should regulate our relations based on the 7th National Development Plan principles and in case of any content deficiencies the plan should be amended.

“We must put aside internal differences and solve problems with our neighbors and the world because, anyway, foreign relations as a factor plays a role in improving the economic situation.”, he concluded. - Shana