Al-Maskati: Decrease in Oil Prices Makes General Budget Face Challenges
2015-09-01 - 2:36 am
Bahrain Mirror: Chairman of Bahrain's Shura Committee on Finance and Economic Affairs Khalid Al-Maskati said that the decrease in oil prices to less than 60 dollars exposes the general budget to challenges that require measures which may be classified as highly conservative.
While chairing a meeting for the Shura Committee on Finance and Economic Affairs, Al-Maskati considered that the conditions and economic variables that the country and world are witnessing during the current period require more cooperation and coordination between the executive authority and government to overcome any consequences that may affect the national economy within this period. He pointed out that working on the economic issue requires partnership from all the parties concerned in drawing the financial policy in the Kingdom alongside the private sector.
Al-Maskati pointed out in an official news report published by the media department of the Shura that the decrease of oil prices to less than 60 dollars makes the general budget face challenges that require measures which may be classified as highly conservative, especially with regards to the recurrent expenditures, which we have to work on to decrease its effects on citizens as much as possible, in addition to the need to draw a clear plan aimed at diversifying the sources of income, which should be based on strengthening the Kingdom's industrial sector and push legislations in the field of bilateral trade with friendly states.
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