Speaking at a press conference at the Economic Planning Unit (EPU) here today, Wahid said that though the “uncertain” global economy would bring the country face to face with challenging times, a strategy of diversification has decreased the country’s dependency on the commodities sector.
“Apart from diversifying the economy’s structure, we have also diversified the government’s income sources where we have decreased our dependency on the oil and gas sector,” he said.
He added that through diversification, the country had also decreased its dependency on other countries by exporting a variety of products to many different countries.
“Though China is our biggest business partner, we only export less that 14 percent to them, which means that we are not 100 percent dependent on any particular country.”
Wahid, whose tenure as senator and minister will end on June 4, said his experience on the job was “professionally enriching, socially enlarging and spiritually fulfilling”.