Iran needs more than $100 billion in foreign investment: Prez Pezeshkian

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%.

The remarks by Masoud Pezeshkian, who was elected in July, came in his first live televised interview by state TV.

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