ATTAINING SUSTAINABLE GROWTH IN THE FACE

چکیده مقاله

Since the beginning of the year 2016, the prices of crude oil have reduced by over 20%. This situation has forced oil-rich countries and oil-dependent countries to emergency meetings in order to address the situation and forestall the looming economic downturn. With the price of oil falling to as low as $31.72 per barrel, as at January 12, 2016, global organizations such as BP, Shell and Chevron are laying off thousands of workers in order to effectively manage their operations. Oil Exporting countries have started pointing accusing fingers as some have stated that over production by countries like the United States is the reason for the price slump. The world now has an excess of over one million barrels per day. This study examines the impact of falling oil prices will have on the budgets of oil-exporting countries and prescribes avenues to ensure that oil exporting economies can finance their budgets and ensure that the budget is balanced. 

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