There will be no increase in the cost of fuel. This according to Finance Minister Colm Imbert as he delivered the mid-year budget review this afternoon. Minister Imbert also announced an increase in the gas production levels.
Speaking on the motion ‘Adopt the Second Report of the Standing Finance Committee’ in the House of Representatives this afternoon, Minister Imbert started his contribution by giving an over view of the impact of the economic decline triggered by falling oil prices and reduction in revenue. The Finance Minister also gave some details on the exchange rate and the input of the Central Bank in this matter.