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Iranian President Masoud Pezeshkian has urged his government to take concrete steps to restore public confidence, saying trust is essential to the success of reform policies. He called for action rather than unfulfilled promises and closer coordination across ministries and provinces to tackle inflation, unemployment and inequality.
Iranian President says exports and imports fell nearly 35% due to U.S. sanctions and naval blockade, while officials acknowledge severe economic damage after six months of war. Tehran pledges diplomacy and defense, insists on control of the Strait of Hormuz.
Iranian President Masoud Pezeshkian on August 8 called for comprehensive coordination among government agencies and market regulators to safeguard the economy during current volatility. He urged enhanced oversight of prices and essential supplies, and stronger action against speculation and hoarding.
Iran's rial has hit a record low, trading at 2 million to the dollar on the free market amid new US sanctions and war with Israel. Prices for food and medicine have soared, with essentials like tomatoes up 71% and insulin up 642%, devastating ordinary families.
Despite war with the U.S. and harsh sanctions, Iran's economy endures thanks to domestic diversification, gray trade, and informal labor. But soaring inflation and a shrinking middle class mean ordinary Iranians bear the heaviest burden. The current model, welfare economists say, is an expensive way to survive — not a recipe for recovery.
After a preliminary U.S.-Iran agreement, the Iranian rial has strengthened over 15% against the dollar and the stock market hit a record high. Yet many Iranians say basic goods prices remain unchanged, and economists warn that structural economic issues persist.
Months of conflict with the US and Israel, coupled with a tightening blockade, have pushed Iran's economy to the brink, with inflation soaring and daily life becoming a battle for survival. Residents of Tehran describe a grim routine of staying alert, checking phones after explosions, and struggling to afford basic goods as prices spiral out of control.
Amid ongoing attacks and escalating tensions, Iran and the US maintain indirect negotiations. Tehran markets have responded positively, but Iranian politics and public opinion remain deeply divided over the prospect of a deal.
Iran's stock market is expected to reopen this week after an 80-day closure due to war with the US and Israel. The reopening may provide insight into the country's economic situation and allow authorities to assess investor confidence.
