Budget hailed as people-friendly, growth-oriented

MUSCAT, JAN 3 – Experts in the Sultanate, both citizens and expats, have hailed the Budget 2019, describing it as “growth-oriented”.
Davis Kallukaran, Managing Partner, Founding and Managing Partner of Horwath Mak Ghazali, Chartered Accountants Muscat, said the encouragement to the private sector and creation of job opportunities for the youth is a step towards achieving national objectives of health, education, housing and employment for all”.
Davis, also a Fellow of the Institute of Chartered Accountants of India and a Certified Fraud Examiner (CFE) (US), said: “The allocation of 39 per cent towards education, training, healthcare and housing of the Omani people is praiseworthy. This shows the compassion of His Majesty towards the people of the country.”
The investment proposed in the infrastructure development will accelerate growth,” he said.
According to Mohammed al Mashani, GM- Corporate Affairs, Port of Salalah, the budget continues to be focused on diversification by giving special attention to non-oil sectors such as tourism, logistics, mining and others identified by the Tanfeedh programme.
“It focuses on social and health sectors, which account for 39 per cent of the spending,” Al Mashani said.
Mubeen Khan, a chartered accountant and analyst, feels the budget is “forward-looking” and “growth oriented”. It attempts to drastically reduce the budget deficit.
“The proposed investment/ development expenditure of RO 3.7 billion will boost construction, and oil and gas sector. This will create more jobs for nationals and expatriates alike,” he said.
Mohamed Said Elian, Head of Marketing and Public Relations, Bayan College, said the budget gives a clear indication that the government will be able to overcome the financial crisis by expanding national income resources.
Dr Dilip Singhvi, Medical Director at Apollo Hospital, feels the economy will do better as there is thrust again on infrastructure projects, which will create more job opportunities, especially in the private sector.
“While health and education sectors are getting priority, revenues from non-oil sources are also being tapped. The deficit is reducing, which will take the economy forward,” he said.