2021 Budget first step in delivery of Oman 2040 Vision | ZAWYA MENA Edition
Oman’s 2021 General Budget, replete with bold but judicious measures to drive fiscal sustainability amid a severe economic crunch, sets the tone for the implementation of the road map for achieving the country’s long-term growth objectives enshrined in the Oman 2040 Vision blueprint.
According to a key Muscat-based tax expert, the Budget also has the potential to put the Omani economy, weighed down by low oil prices and the coronavirus pandemic, on a promising path to recovery.
“This is an aspirational and prudent budget that has all of the essential ingredients necessary to invigorate the economy and return the country to health and eventual prosperity over the long-term,” commented Alkesh Joshi (pictured), Oman Tax Leader and MENA Energy Tax Leader at global professional services firm EY.
In comments to the Observer, Joshi listed a number of standout features in the Budget that, he said, augurs well for efforts to put the country on a stronger economic and fiscal footing in the shortest possible time.
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