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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Financial Affairs, Energy Resources Council Meets

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MUSCAT: The Financial Affairs and Energy Resources Council on Wednesday held a meeting at the Ministry of Finance headed by Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs and Deputy Chairman of the Council. The council reviewed a number of topics, including a report on the financial position of the state until August 31, 2018, and the expected results of the budget at the end of 2018. It examined the most important financial and economic indicators, including the actual position of oil prices, revenues, expenditure levels, deficit, banking conditions and credit rating. The council also discussed the draft State Budget for the fiscal year 2019, reviewing the latest developments in the global economic situation and its impact on national economy and public finances, including international oil prices, and a number of measures to achieve financial sustainability and improve credit rating. The council approved the submission of the draft budget to the Council of Ministers.


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