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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Draft state budget for 2020 reviewed

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MUSCAT: The Financial Affairs and Energy Resources Council (FAERC) on Thursday held its 6th meeting for 2019 under the chairmanship of Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs, FAERC Deputy Chairman.


The Council reviewed the draft state general budget for the fiscal year 2020. It also reviewed the latest developments related to global economic situations and their implications on the national economy and state general budget, as well as trends of global oil prices and the measures necessary to achieve financial sustainability and improve the Sultanate’s credit rating.


The Council also viewed performance of the national economy and public finance for 2019 and decided to refer the draft budget to the Council of Ministers.


The Council also viewed some reports pertaining to oil and gas sector. — ONA


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