TEHRAN – Members of the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) debated the impact of looming snapback sanctions and ways to boost demand during stagflation at their 30th general assembly, held on the first day of autumn.

The session coincided with President Masoud Pezeshkian’s trip to the United Nations General Assembly in New York and came just days before the expected activation of the sanctions known as the “snapback mechanism.”

Private and public sector representatives highlighted dual challenges facing the economy: stimulating demand in a recessionary environment with high inflation, and devising resilience strategies for businesses to withstand renewed sanctions pressure.

Attaollah Ashrafi Esfahani, vice chair of TCCIMA’s agriculture and food industries committee, warned that the farm and food chain is under unprecedented stress.

He said repeated power outages and energy shortfalls in recent months had made damage to the production units, inflicting heavy losses on agriculture and industry.

EF/MA