12 Apr 2017

Impact of drop in Oil prices discussed at University Forum

As part of the extra curriculum activities which are presented to students at AOU Dr. Fatima AlAli from the Department of Account at Ahlia University presented a talk to business students at AOU on April 9, 2017 on the impact of drop in Oil prices about 150 students from all Specialization attended the event. The presenter focused on the strategies of the gulf areas in general and Bahrain in particular of how to deal with the crisis of the drop in oil prices and what the kingdom has done to face this crisis. The presenter has mainly focused on the strategies of the Gulf States in general and Kingdom of Bahrain in particular of dealing with the crisis of the falling of oil prices. She has also highlighted the measures the Kingdom has taken to confront this crisis through reforming the structures of the government spending to decrease the expenses. This reformation can take place not only through reducing expenditure but also through consolidating the endeavors of subsidizing fuel price against the activation of the taxation.

The presenter has also made it clear that these measures are acceptable but not sufficient. That’s why she has urged the Kingdom of Bahrain to put long and short term comprehensive plans to direct its economics towards non-oil activities that help diversify and multiply sources of national income and accelerate sustainable development efforts. If the governments carry upon their shoulders the burden of the economic reformation and development, the people have another burden to carry; which is raising the awareness of their societies’ to change their lifestyles in a positive way.

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