Iran’s economic problems worsened as Israel-US war damaged factories, cut oil sales: Pezeshkian

Iranian President Masoud Pezeshkian has said Iran’s economic problems have sharply worsened since its war with the US and Israel.

He said during a meeting that rising prices are driven by higher import costs and falling state revenues caused by reduced oil sales, according to Iranian media.

Pezeshkian says imported goods once entered Iran through more direct routes, but now take longer and more expensive routes, pushing up prices.

He also underlined that declining oil sales have cut government revenues, with Iran unable to sell oil at previous levels.

“Our income has also decreased. We used to sell oil, now we can’t,” Pezeshkian said.

Damage to industrial facilities has added to the economic strain, the Iranian leader noted, as many factories were hit and destroyed during the Israel-US attacks.

Pezeshkian noted that the damage has also reduced tax revenues, leaving the government struggling to collect payments from affected factories.

“We can’t collect taxes from factories, and not only that, we have to give them money so they can stay afloat,” the Iranian president said.

“Our problems have worsened dramatically, while our income has declined,” Pezehskian said.