Council reviews state of economy

Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs, and Deputy Chairman of FAER, chaired a meeting of Financial Affairs and Energy Resources Council (FAERC) on Wednesday. The Council reviewed the economic and financial situation of the Sultanate. It reviewed oil prices, revenues, levels of expenditure, loans and deficit. The Council stressed the need to continue to take financial and economic measures aimed at achieving financial sustainability. The Council discussed the report of the final accounts of the State budget for the fiscal year 2018, and the final accounts were approved. The meeting also included a presentation on the performance of state-owned enterprises, the performance of State Reserve Fund investments and a number of other issues, and appropriate decisions were taken in their regard. — ONA