Budget draft aims to boost fiscal health, credit rating

Budget draft aims to boost fiscal health, credit rating

Muscat: The State Council discussed the report of the expanded economic and financial committee on the draft general budget of the state for the fiscal year 2024 before referring to the Council of Ministers with the recommendations of the State Council and Majlis Al Shura. During the meeting, State Council Chairman Sheikh Abdulmalik bin Abdullah Al Khalili, said: "The discussion on draft budget is held under the wise vision of His Majesty Sultan Haitham bin Tarik for achieving the economic and social objectives of Oman Vision 2040 and the national programmes for enhancement of the financial performance to achieve fiscal sustainability and mitigation of its impacts on the national economy, besides raising the credit rating." Dr. Dhafir bin Awadh Al Shanfari, Chairman of the Economic and Financial Committee of the State Council, delivered the statement of the expanded economic and financial committee on the draft general budget of the state for the fiscal year 2024. He pointed out that in reviewing the draft budget, the committee has relied on the methodology established in the State Council while taking into account the remarks/observations of the members and incorporated in the report. He said that the committee has accorded due and utmost