The Ministry of Finance and Ministry of Economy have issued a joint circular that sets out the methodology for preparing the estimates of the 2023 State Budget (current and development estimates).
The preparation of the 2023 State Budget estimates come in line with the government’s objectives which seek to achieve the goals of Oman Vision 2040 and to implement the programmes and initiatives of the tenth five-year Development Plan (2021-2025).
Salient features of State Budget 2023 include maintaining current measures to achieve financial sustainability, channelling part of the financial surpluses (if any) towards augmenting liquidity and accelerating the award and implementation of development projects in the 10th Five-Year Plan (2021-2025) across various sectors. The aim is to stimulate economic recovery, cut indebtedness and gradually reduce and repay instalments.
The budget estimates of various government units shall be submitted online with the aim to enhancing the efficiency of budget preparations, improving the process of the budget discussion and facilitating the budget implementation control.
Online submission for the estimates of the 2023 State Budget (current and development estimates) shall be made prior to July 31, 2022. (ONA)
Oman Observer is now on the WhatsApp channel. Click here
