Pezeshkian: Investment, spending discipline key to financial stability
‘Economic pressures result of war, sanctions and trade restrictions’
Iranian President Masoud Pezeshkian said attracting investment was one of the government's key avenues for securing financial resources, while stressing that managing expenditures and eliminating unnecessary spending must also be pursued seriously.
At a meeting of the government's Economic Coordination Council on Sunday, officials reviewed various scenarios facing the country's economy, as well as government policies and plans for dealing with different economic conditions. They also decided on measures aimed at preserving economic stability, protecting people's livelihoods and ensuring the continued supply of the country's essential needs, according to president.ir.
"Attracting investment is one of the important ways of securing resources, but alongside that, cost management and the elimination of unnecessary expenditures must also be placed seriously on the agenda," Pezeshkian said.
He added that excessive costs in executive bodies, government institutions and other sectors should be identified and reduced.
Pezeshkian also stressed the need to manage energy consumption.
"Effective conservation programs in the water, electricity and fuel sectors must be implemented, and the resources generated from these savings should be used directly to improve people's livelihoods," he said.
The country, already hit by Western sanctions over its nuclear program, faces growing external economic and maritime pressure, including US restrictions targeting its shipping and oil trade through a naval blockade imposed since mid-April. US President Donald Trump imposed the sea-based embargo on southern Iranian ports, aiming to pressure Tehran into a peace agreement after a 40-day conflict that began in late February.
The president also criticized some media analyses and narratives about the country's economic situation, saying that under conditions of economic war, sanctions and trade restrictions, not all price developments could be attributed solely to the government's performance. He added that the state broadcaster should not fuel public concern or portray the government's performance negatively through one-sided and undocumented analyses.
"Under conditions in which the government, because of national and security considerations, is unable to disclose certain realities, the national media also has no right to create public anxiety and portray the government's performance negatively through one-sided and undocumented analyses," he said.
Iran's annual inflation rate rose to 53.9% in the 12 months ending in the second month of the current Iranian year, compared with the corresponding period a year earlier, the Central Bank of Iran (CBI) said this week. Point-to-point inflation, which measures changes in consumer prices compared with the same month a year earlier, stood at 77.2%, the CBI said.
Referring to what he called “inaccurate and unfair media narratives” about the causes of rising inflation, Pezeshkian said, "At a time when the country's economy is directly affected by the US and Zionist regime's imposed war against Iran, the constraints resulting from economic sanctions and trade pressures, including the naval blockade, not all price developments can be attributed solely to the government's performance."
"Despite the losses and economic pressures resulting from these conditions, the government has mobilized the country's executive capacities to minimize the severe consequences of this economic and security war. Nevertheless, some narratives create the impression that none of these factors exist and that all problems stem solely from the government's performance," he said.
"Under the current circumstances, managing the country's economy requires responsible decision-making, honest dialogue with the people and avoiding promises that cannot be fulfilled."
The president also emphasized that supporting household livelihoods remained the government's strategic priority.
"People's livelihoods are a fundamental and non-negotiable principle for me. The government is obliged to use all available capacities to strengthen people's purchasing power and reduce economic pressure on different segments of society," he said.