The draft state budget for the fiscal year 2024 was the main topic of discussion during the State Council's recent meeting. The council reviewed a report prepared by the Enhanced Economic and Financial Committee and will be submitting it, along with their recommendations, to the Council of Ministers and Majlis Ash'shura.
Under the leadership of Shaikh Abdulmalik bin Abdullah al Khalili, the State Council convened for its second meeting of the first annual session of the eighth term. During the meeting, the chairman emphasized the importance of aligning the budget discussions with His Majesty Sultan Haitham bin Tarik's vision for Oman's economic and social development. The aim is to achieve the goals outlined in Oman Vision 2040 and the national programs and plans, which will contribute to the recovery and improvement of the national economy. Efforts to ensure financial sustainability and enhance the country's credit rating are also being prioritized.
Dr Dhafer bin Awad al Shanfari, the Head of the Economic and Financial Committee at the State Council, presented the report of the Enhanced Economic and Financial Committee regarding the state's general budget for the fiscal year 2024. In his statement, he emphasized that the committee took into account the opinions and perspectives expressed by its members and incorporated them into the final report.
The chairman of the Enhanced Economic and Financial Committee highlighted the significance of focusing on the framework of macroeconomic policies, as well as the objectives of the Tenth Five-Year Plan and the Oman Vision 2040, during the preparation of the report. The committee concluded the report by providing comprehensive recommendations and perspectives on the six key areas addressed in the report.
