Oman finance, energy council takes stock of economy

Muscat: The Financial Affairs and Energy Resources Council has approved the referral of the budget 2019 to the Council of Ministers.
The decision was taken at the sixth meeting of the Council for the year 2018. The meeting was held at the building of the Ministry of Finance in Muscat.
Darwish bin Isma’eel Al Balushi, Minister Responsible for Financial Affairs, Deputy Chairman of the Financial Affairs and Energy Resources Council and in the presence of their Excellency the members of the Council chaired the meeting.
The Council reviewed a number of topics including the report of the financial position of the state up to August 31, 2018 and the expected results of the Budget at the end of 2018 and learned about the most important financial and economical indicators including the actual status of the oil price, revenues, levels of expenditure, deficit and the status of the banking sector and credit ratings.
The Council completed the discussion on the state general budget for the year 2019, reviewing the development of the global economic situations and their impact on the national economy and the state general finance including the trends of international oil prices and number of necessary precautions to achieve financial sustainability and improve credit rating.
The Council reviewed some reports related to the oil and gas sector as well as other topics and suitable decisions on them were taken.