Iran's president-elect says economy will take time

Iran's newly elected reformist-backed president said Sunday that the country's dire economic problems cannot be solved "overnight," as he took his first steps in consulting with members of the clerically dominated establishment on his new policies.

Hasan Rohani's surprise victory in Friday's elections puts him in charge of an executive branch that traditionally has taken the lead in handling the economy, but nuclear efforts, defense and foreign affairs remain primarily in the hands of the ruling clerics and their powerful protectors, the Revolutionary Guard. (AP)