Muscat, The Financial Affairs and Energy

Resources Council (FAERC) today held its 6th meeting for 2019 under

the chair of Darwish bin Ismail 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.

Source: Oman News Agency