11 July 2016 - 09:24
  • News Code: 264655
Govt. Bent on Minus Oil Economy

TEHRAN, July 11 (Shana) – The First Vice-President Eshaq Jahangiri said on Sunday that non-reliance of the national economy on petrodollars is core of government's plan.

Jahangiri told the inaugural ceremony of the 9th International Exhibition of Stock Exchange, Banking and Insurance at Tehran International Permanent Fairground that government is concurrently pursuing two policies: Development of the oil industry and non-reliance of national economy on oil revenues.

He said the Economy of Resistance emphasizes the two points.

He added that the oil industries development will of course become possible in light of several 10 billion dollars investment and part of the capital should be met out of foreign investment and the rest out of domestic resources.

Elsewhere in his address, the official pointed to the need for banking reforms.

News Code 264655

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