Iran's Leader Says Government Prioritizing Economic Overhaul

(MENAFN) Iranian President Masoud Pezeshkian announced Monday that his administration is making economic restructuring and protester engagement top priorities, stressing that the financial struggles of everyday citizens occupy his thoughts constantly.

"The livelihood of the people is my daily concern. We have fundamental actions on the agenda to reform the monetary and banking system and preserve the purchasing power of the people," Pezeshkian declared.

"I have tasked the Minister of the Interior to hear the legitimate demands of the protesters through dialogue with their representatives, so that the government can act with all its might to resolve problems and respond responsibly," Pezeshkian posted on X, the social media platform owned by the US company.

The president's statement follows Iran's largest street demonstrations in three years, which erupted Monday after the rial—the nation's currency—crashed to unprecedented lows against the US dollar. The unrest intensified following Iran's Central Bank governor Mohammad Reza Farzin's resignation as protests swept through Tehran and multiple cities nationwide.

Iran's economy faces mounting pressures from explosive inflation, the rial's freefall, virtually stagnant GDP expansion, and significant capital exodus—conditions largely attributed to US sanctions imposed on the country.

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