Omani Ministries Update State Council About Draft State Budget 2024

Muscat: The ministries of finance and economy today outlined the draft version of the State Budget 2024 before members of the State Council.

The update was made when the State Council hosted Finance Minister Sultan Salim Al Habsi and Economy Minister Said Mohammed Al Saqri as part of the Council’s follow-up of the budget project.

The meeting touched on the stages of the State Budget’s drafting, major global and local economic indicators, the expected results of Budget 2023, projections of State Budget 2024, the position of the public debt and relevant initiatives and projects.

The meeting reviewed the country’s financial and economic indices in global economic developments, inflation forecasts and oil price projects. This is in addition to the volume of revenues, spending estimates, economic growth rates, the country’s financial position, its financial and monetary policy, savings versus investment rates and the efforts made by the government to improve those rates.

The meeting laid emphasis on determining standards and priorities of development projects and the overall global economic evolutions and their impacts on the national economic situations. The aim was to maintain and sustain domestic development achievements and realize the economic and social goals envisaged by the government through the State Budget 2024 plan.

The meeting was attended by members of the Expanded Economic and Financial Committee and undersecretaries of the two ministries. – ONA

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