ERBIL, Kurdistan Region of Iraq – Iranian President Masoud Pezeshkian on Tuesday addressed the recent nationwide protests over the country's economic situation, saying that the government should not be expected to solve the crisis alone, and that the country's income is clear and limited.

Workers and business owners in Tehran’s Grand Bazaar went on strike last week, protesting the alarming devaluation of the rial against the US dollar. The demonstrations soon spread across the country.

Pezeshkian said that the government must listen to the people, and remove the obstacles in the way to the best of its ability, calling on experts to step forward and contribute to resolving the issues faced by the country.

“The government basically does not have such power. Even if it wants to do this, it will be forced to put heavy pressure on the lower deciles of society by printing money. The country's income is certain and our resources aren't unlimited,” Pezeshkian said during a speech on Tuesday.

The protests have prompted a violent crackdown from Iranian authorities, leading to the death of at least 18 people across the country during the first week of demonstrations, according to the Oslo-based Hengaw Human Rights Organization.

Iranian Supreme Leader Ayatollah Ali Khamenei said Saturday that the demands of protesters in the country are “completely fair,” though warning that rioters must “be put in their place.”

In his speech, Pezeshkian also pointed out the impact of international sanctions on the country's economy, saying that “oil is under embargo and sources of income are limited.”

The protests carry particular significance for the state, as Iran’s economy heavily relies on the Grand Bazaar, which rarely partakes in popular demonstrations. In 2022, the bazaar did not participate in the popular Jin, Jiyan, Azadi (Women, Life, Freedom) demonstrations, the country’s largest protest movement in four decades, despite repeated calls from the public to do so.