Iranian President: Economic Difficulties "Exacerbated Exponentially"

Tehran – Agencies: Iranian President Masoud Pezeshkian warned yesterday that the country’s economic problems have worsened following the war with the United States and Israel, due to declining oil revenues and the destruction of factories. In a statement reported by Iranian media, he added that rising prices are driven by increased costs and a drop in state revenues resulting from lower oil sales. Pezeshkian summarized the scale of the economic difficulties facing the country by saying, “Our problems have worsened many times over, while our revenues have also declined.” He explained that imported products previously reached Iran through more direct routes, whereas today they are brought into the country via various indirect paths, leading to higher final costs. He pointed to the decline in state revenues, stating, “Our revenues have dropped; we used to sell oil, but now we cannot.” He noted that damage to the country’s industrial facilities has exacerbated the economic situation, adding, “They targeted and destroyed a large number of factories.” He confirmed that this situation has also affected tax revenues, adding, “We can no longer collect taxes from factories; not only that, but we are also required to provide them with funds to enable them to continue operating.”