Oman’s Financial Affairs and Energy Resources Council (FAERC) held its fourth meeting of the year under the chairmanship of Darwish bin Isma’eel al-Balushi, Minister Responsible for Financial Affairs, Deputy Chairman of the FAERC.
The Council, on Thursday reviewed ongoing developments in the international arena and impacts from an expected global economic recession on the Sultanate’s national economy and general finance.
The FAERC also studied a memo forecasting international oil prices, their trends within visible range and their expected toll on the state budget 2020. It also looked into indicators of financial performance till the end of April 2020, including the actual realized oil price, actual revenues and the levels of spending and deficit.
The Council approved the amended plan to finance the budget for this year, discussed reports on the sector of oil and gas, among other topics, and took appropriate decisions in their regard.
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