Tehran, Jan 5, IRNA – Presidential advisor in economic affairs said economic stability, presence of effective financial sector and sustainable foreign relations are highly effective in increasing productivity and growth of Iran’s national economy.
Speaking at a gathering on the sidelines of the first Conference on Economy, Masoud Nili said undoubtedly the activity of a strong public sector, presence of social security, good governance, preservation of natural resources and proper utilization of mining reserves will prepare the ground for growth and development of the economy.
He stressed that in the past years Iran’s economic growth like that of Saudi Arabia has been dependent upon oil revenues and this has caused the amount of productivity in the entire country to drop to zero in the long term and become negative in recent years.

Pointing to the fact that the economic growth rate and asset inventory have a close relationship with each other, Nili said whenever asset inventory has increased, drop of economic growth rate has been witnessed.

The presidential advisor noted that excessive oil revenues and implementation of wrong import policies as well as increase in liquidity has resulted in stagflation and in case sanctions were not imposed Iran’s economy would still have been turned negative in recent years.

He further remarked that for perpetuation of constant economic growth in comings years, productivity of all production factors should be increased so that it can prepare the ground for sustainable economic growth in the country.

By IRNA

 

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