Addressing the Conference of National Productivity on Saturday, Nobakht said Resistive Economy is kind of economy that external factors cannot shake it and is safe against the instabilities stemming from out of the country.
Describing recent tumbling oil prices as an oil shock, he said: "Falling oil prices have definitely put an impact on our economy because an economy which used to run by 56 billion dollars [annual oil revenue] now should be administered with just 40 billion dollars."
“Oil revenue has a decisive impact on the economy, so in response to those critics who are saying oil is the main reason behind underdevelopment, I would like to say that the country should deploy its oil revenues as a means for driving the country toward development and economic growth”, he said.
Falling oil prices unveiled the truth that we have access to limited sources for investment, therefore we should move toward diversification, he concluded.
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