Sultan Haitham bin Tariq, Sultan of Oman, approved the state’s general budget for the fiscal year 2024, which amounted to about 11.10 billion Omani riyals, an increase of 9.5 percent over the estimated revenues for the year 2023. Sultan Haitham bin Tariq also issued a decree establishing the “National Fund for Emergency Situations.” ; With the aim of confronting emergency situations and natural disasters such as weather events, floods, earthquakes and other risks to which the country is exposed, and which cause damage to public facilities and infrastructure.
The Ministry of Finance estimated the total revenues of the state’s general budget for the year 2024, which were calculated on the basis of the average oil price of US$60 per barrel, at approximately 11.10 billion Omani riyals, an increase of 9.5 percent over the estimated revenues for the year 2023. While the total public spending for the state’s general budget is estimated for the year 2024 at about 11.65 billion Omani riyals, an increase of 2.6 percent over the estimated spending for 2023, and includes the cost of servicing the public debt amounting to about 1.5 billion Omani riyals.
Source (Emirati Al-Khaleej newspaper, edited)
