There is no doubt that the top priority for Iran’s new government is to bolster the country’s economy. After ascending to power on the back of the lowest voter turnout recorded in an Iranian presidential election, a financial boom would indeed provide it with some much-needed legitimacy. This may be the reason why on Aug. 9, newly incumbent President Ebrahim Raisi picked the economist Mohammad Mokhber as his first vice president.

The appointment augurs well: Mokhber has held several top-level economic positions, including as manager of one of the region’s largest business conglomerates, the Execution of Imam Khomeini’s Order, also known as “Setad”...