If prices continue sliding, the most prominent way to cut spending – without compromising current production levels – is to shelf and call off future projects aimed at exploring and developing new production fields till prices rise.
Financial stability reports and stress tests, recently developed by the Financial Stability Department of CBO, reflected the durability, resilience and sectoral diversity of the banking system in general.
Tourism infrastructure developments like airport expansion, dedicated facilities for cruise ships, public transport facilities, integrated tourism complexes and hotels and resorts are expected to give the much-needed fillip to Oman’s tourism.
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