Muscat: The State Council convened to discuss the report of the expanded economic and financial committee regarding the draft general budget for the fiscal year 2024. The recommendations of the State Council and Majlis Al Shura will be forwarded to the Council of Ministers.
During the meeting, State Council Chairman Sheikh Abdulmalik bin Abdullah Al Khalili emphasized that the budget discussion aligns with His Majesty Sultan Haitham bin Tarik's wise vision to achieve the economic and social objectives of Oman Vision 2040 and the national programs aimed at enhancing financial performance, ensuring fiscal sustainability, and minimizing its impact on the national economy. Additionally, the goal is to improve the country's credit rating.
Dr. Dhafir bin Awadh Al Shanfari, Chairman of the Economic and Financial Committee of the State Council, presented the statement of the expanded economic and financial committee on the draft general budget for the fiscal year 2024.
He highlighted that the committee reviewed the draft budget using the methodology established by the State Council, taking into account the members' remarks and incorporating them into the report. The committee gave utmost importance to the members' views and opinions.
Macro-economic policies
The expanded economic and financial committee emphasized the significance of the draft budget within the framework of macro-economic policies, the objectives of the 10th five-year plan, and Oman Vision 2040. The committee presented detailed recommendations based on the six pillars outlined in the report.
The meeting took place during the second session of the first annual convening of the 8th term, with the presence of the Secretary General of the State Council and its members.
