TEHRAN, Iran: Iran’s president said Saturday his country needs some $100 billion in foreign investment to achieve an annual target of 8 percent economic growth up from the current rate of 4 percent.
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 percent 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 percent annually, “if we solve our problems with neighbors and the world.” He did not elaborate.
Pezeshkian confirmed that his first visit abroad will be to neighboring Iraq and he would then fly to New York to attend the United Nations General Assembly meeting on Sept. 22-23. He said while he was in New York he would meet with Iranian expatriates to invite them to invest in Iran. Out of more than 8 million Iranian expatriates, some 1.5 million Iranian live in the United States.
Pezeshkian, who is viewed as a reformist, was sworn in last month and parliament approved his cabinet earlier in August, promising a softer tone both inside and outside the country. His predecessor, Ebrahim Raisi, a hard-line protege of Iran’s supreme leader who led the country as it enriched uranium near weapons-grade levels, died in a helicopter crash in May, along with seven other people.
Iran’s economy has struggled since 2018 after then-President Donald Trump pulled the US out of the deal to constrain Tehran’s nuclear program and imposed more sanctions. Pezeshkian said during his presidential campaign that he would try to revive the nuclear deal.
Iran’s president says his country needs more than $100 billion in foreign investment
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Iran’s president says his country needs more than $100 billion in foreign investment
- Pezeshkian said Iran needs up to $250 billion to reach its goal but more than half is available from domestic resources
Houthis abduct another Yemeni employee of US Embassy in Sanaa
- Armed Houthis, including Zaynabiyat policewomen, stormed the house of Mohammed Abdullah Shammakh
- Shammakh was in a nearby market purchasing items for his family when the raid occurred
AL-MUKALLA: Yemen’s Houthi militia has abducted a Yemeni employee of the US Embassy in Sanaa, becoming the latest known victim of the Houthis’ crackdown on aid and civil society workers in Yemeni areas under their control.
A group of armed Houthis, including Zaynabiyat policewomen, have stormed the house of Mohammed Abdullah Shammakh, an administrative officer at the US Embassy in Sanaa, and abducted him after searching it, according to his friend and Yemeni journalist Sami Ghaleb.
Ghaleb, who spoke with residents of Sanaa’s Al-Ziraah neighborhood, where the abducted man lived, told Arab News on Thursday that the Houthis raided the three-story building on Oct. 10 and instructed its occupants, including children and women, to go to the roofs.
They then confined them, before storming Shammakh’s apartment and conducting a search.
Shammakh was in a nearby market purchasing items for his family when the raid occurred and was taken aback when he observed the Houthis occupying his residence, his friend said.
When he returned home, the Houthis abducted him, leaving behind a chaotic house and a terrified family, according to Ghaled.
“He’s more like a family member than a friend. He is a great person, like his father, lovable and helpful, and he assists his neighbors,” said Ghaled, who published an article on his news site, www.alndaa.net, in which he urged the Houthis to release him and other abducted individuals.
“You are responsible for these heinous violations, and no one in the historic capital is willing to listen to your ridiculous argument. These are simply helpless employees,” Ghaled wrote on his website on Wednesday.
The US Embassy in Yemen, which is now based in Riyadh, responded to Arab News’ request for comment on the abduction of its employee in Sanaa by saying: “We are aware of that report but cannot confirm if it is true at this time.”
The US Embassy in Yemen has been closed since early 2015, and the diplomatic mission has been relocated to Riyadh, months after the Houthis seized power.
In 2021, the Houthis raided the US Embassy compound in Sanaa, abducting Yemeni employees from the building and also abducting other former and current embassy employees from their Sanaa homes.
According to lawyers in Sanaa, the Houthis recently referred six abducted US Embassy employees to court and intend to try them on espionage charges.
Over the past four months, the Houthis have abducted more than 70 Yemeni workers from UN agencies, international human rights and aid organizations, and foreign diplomatic missions, accusing them of spying for US and Israeli intelligence agencies.
Relatives of some of those abducted have told Arab News that the Houthis have denied their requests to visit them in detention, call them, or provide information about their conditions.
On Wednesday, the office of the UN Yemen envoy, Hans Grundberg, said that he discussed efforts to release the UN workers abducted by the Houthis with Nada Al-Nashif, the UN deputy high commissioner for human rights, and reiterated his appeal to the Houthis to release them.
“The UN remains steadfast in demanding their immediate and unconditional release,” Grundberg’s office said.
Middle East conflicts to leave ‘lasting scars’: IMF
- IMF lowers its predicted growth for the Middle East and Central Asia to 2.1 percent for 2024
- IMF forecasts for Lebanon, where conflict with Israel has sharply escalated this month, have been suspended
DUBAI: Gaza, Lebanon and Sudan will take decades to recover from the conflicts raging on their soil, the International Monetary Fund said on Thursday after downgrading the region’s growth forecast.
Israel’s military actions against Hamas in the Gaza Strip and Hezbollah in Lebanon, and Sudan’s civil war would have enduring impacts, the IMF said.
“The damage caused by these conflicts will leave lasting scars at their epicenters for decades,” the global lender said in a statement.
The IMF has lowered its predicted growth for the Middle East and Central Asia to 2.1 percent for 2024, a drop of 0.6 percent due to the wars and lower oil production.
Depending on the conflicts, growth should rise to 4.0 percent next year, according to the IMF’s Regional Economic Outlook which was compiled in September.
“This year has been challenging with conflicts causing devastating human suffering and lasting economic damage,” Jihad Azour, the IMF’s Middle East and Central Asia Department director, told reporters in Dubai.
“The recent escalation in Lebanon has greatly increased the uncertainty in the whole MENA region.”
IMF forecasts for Lebanon, where conflict with Israel has sharply escalated this month, have been suspended. But “conservative” estimates show a 9.0-10 percent contraction this year, Azour said.
“The impact (on Lebanon) will be severe and it will depend how long this conflict will last,” said the former Lebanese finance minister.
Saudi-led oil cuts through the OPEC+ group, aimed at propping up prices, “are contributing to sluggish near-term growth in many economies,” the IMF said.
For the region’s oil exporters, “medium-term growth is projected to moderate, as economic diversification reforms will take time to yield results,” it added.
Downside risks continue to dominate, the lender said, including fluctuating commodity prices, conflicts and climate shocks.
Syria state media report Israel strikes on town near Lebanon border
DAMASCUS: Syrian state media said Israeli strikes hit the town of Qusayr near the Lebanese border on Thursday, the latest in a series of raids in the area.
“An Israeli aggression targeted the Qusayr area in the southern Homs countryside,” causing “material damage to the industrial city and some residential neighborhoods,” the official SANA news agency said.
Doctors Without Borders surgeon detained by Israel in north Gaza hospital raid
- Mohammed Obeid, an MSF orthopaedic surgeon working at Kamal Adwan hospital in north Gaza, was detained during an Israeli military raid on the site on Oct. 26, MSF said
GENEVA: Medical charity Medicins Sans Frontieres (MSF) said on Thursday that one of its doctors working in a north Gaza hospital has been detained by Israeli forces.
Mohammed Obeid, an MSF orthopaedic surgeon working at Kamal Adwan hospital in north Gaza, was detained during an Israeli military raid on the site on Oct. 26, MSF said.
“We are extremely alarmed by the detention of our colleague,” it said.
“We call for the safety and the protection of our colleague, and for all medical staff in Gaza who work under impossible conditions and are facing horrific violence as they try to provide care.”
Israeli military says it downed drone smuggling weapons from Egyptian territory to Israel
- Egypt says it destroyed tunnel networks leading to Gaza years ago and created a buffer zone and border fortifications that prevent smuggling
DUBAI: Israel’s military said on Thursday it shot down a drone smuggling weapons from Egyptian territory to Israel on Wednesday.
Israeli officials have said during the war in Gaza that Palestinian armed group Hamas used tunnels running under the border into Egypt’s Sinai region to smuggle arms.
Egypt says it destroyed tunnel networks leading to Gaza years ago and created a buffer zone and border fortifications that prevent smuggling.
Earlier in October, the Israeli military also said it foiled a weapon smuggling attempt from Egypt after downing a drone carrying guns and bullets.
