Additional cut in budgets of ministries, government units

Muscat: The Ministry of Finance has issued the financial circular 16 related to reducing the budgets of ministries and government units as per the directives to take all necessary measures to minimize the effects of low oil prices and reduce the budget deficit. New instructions include an additional 5 percent reduction in the approved budget for all civil, military, and security apparatus for the year 2020, bringing the total reduction to 10 percent. It also calls for negotiating with real estate owners rented by government units to reduce their rents by at least 10 percent. The circular calls for stopping all unnecessary functions, including annual celebrations and launch parties. ONA