Oman oil price, renewable energy plans discussed at finance and energy council meeting

Muscat: Financial status of Oman until September 30, 2017 was reviewed by the Financial Affairs and Energy Resources Council.
The Council on Sunday held its 6th meeting of the year under the chairmanship of Darwish bin Ismail bin Ali Al Balushi, Minister Responsible for Financial Affairs and Deputy Chairman of the Financial Affairs and Energy Resources Council.
The Council reviewed a number of financial indicators including the realised oil price, the state’s actual revenues, expenditure and deficit levels.
It also reviewed the measures that the Council of Ministers has approved upon discussing the state’s budget for the fiscal year 2018. It viewed a presentation on the International Monetary Fund’s report on the economic and financial performance of the Sultanate.
It also reviewed a number of reports on renewable energy the most important of which is the national initiative for solar energy ‘ Sahim’, which aims at creating a sustainable source for power in the Sultanate. The Council affirmed its support for this initiative which plays an important role in enhancing the utilisation of clean renewable energy.