Sustaining growth momentum

Sustaining growth momentum

The Oman Budget 2020 is focussed on fostering growth and maintaining key infrastructure, social and development spending.. The budget's focus on maintaining momentum of infrastructure development is largely targeted towards productive capacity.. Guided by principles of Public Private Partnerships (PPP) and Privatisation, the budget is also focussed on utilising the recent developments registrations to improve the business opportunities for investors.. Fiscal disciplineFiscal reforms have largely focussed on increasing revenues.. Social spending remains an important component of public spending.. “The public infrastructure spending remains an important component in the budget aimed at continuing supporting economic diversification and development.. The former is one of critical importance for fiscal balance where government can source more non-oil revenues to support its public spending.. The budget clearly focusses on trying to grow non-oil revenues through taxation, fees and other reforms..