Oman’s government has asked ministries to slow down projects and identify spending priorities as it looks to tackle the widest budget deficit among Gulf Arab economies.
In a directive to ministries ahead of the country’s fiscal preparation for 2021, the sultanate’s Finance Ministry told the government bodies to avoid exceeding the spending limits set down by the revised budget this year.
The aim is “to prioritize the execution of essential projects that serve economic and social objectives while also slowing down non-essential projects as well as prioritizing the operating of completed projects,” according to a guidance published on the Finance Ministry’s website.
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