News
Steps to rationalise Oman’s budget deficit will continue: FM
Measures for rationalising expenditure are being taken and the ministries are cooperating fully as they understand the problem, Darwish bin Ismail Al Balushi, Minister Responsible for Financial Affairs, told reporters in Muscat.
Measures for rationalising expenditure are being taken and the ministries are cooperating fully as they understand the problem, Darwish bin Ismail Al Balushi, Minister Responsible for Financial Affairs, told reporters in Muscat.
Measures have been taken and will be taken to cover the budget deficit as deficit takes place every year, he added.
“These measures would continue as the current situation requires everyone to join hands as covering the deficit is a joint responsibility,” he said.
“Efforts to rationalise expenditure are going on,” he continued.
The minister denied that any secrecy was being maintained on the measures to rationalise expenditure saying that statements are issued every now and then and meeting are organised.
Moreover, all officials involved in government affairs are briefed on the steps taken by the government to boost non-oil revenues or rationalise and cut government expenses.
The minister added that focus is on enhancing the efficiency of expenditure.
The Ministry of Finance revises the expenses of the government and its units, and monitors expenditures at these units.
Based on such monitoring, the Ministry of Finance issues a number of circulars to urge and encourage these units to limit expenditure on unnecessary items.
‘The measures taken by the government are clear and tangible, and the relevant agencies are well aware of them,” he explained.
-
Uncategorized2 months ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
OER Magazines4 weeks ago
Signature, October 24
-
Alamaliktistaad Magazines4 weeks ago
Al-iktisaad, October 24
-
Commodities2 months ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
Oil & Gas2 months ago
OQEP Appoints United Securities as Liquidity Provider Ahead of Landmark MSX Listing
-
Magazines3 weeks ago
OER, October 24
-
Lifestyle2 months ago
Royal Opera House Muscat Welcomes First Shows of its 2024/25 Season
-
Oman6 days ago
Shell Oman Partners with Oneroad Automotive Gives Away 2 Forthing Cars as Part of its ‘Win Big’ Campaign
You must be logged in to post a comment Login