The Ministry of Finance and the Ministry of Economy on Tuesday jointly issued a circular on the rules for drafting the state budget 2022.
The ministries will draft budget estimate rules in a manner that fits with Oman’s Vision 2040 and programmes listed in the Strategic Programmes Ledger of the 10th Five-Year Development Plan. The rules will also take into account the initiatives of the Mid-Term Fiscal Balance Plan through which the government seeks to achieve financial sustainability and improve business climate.
A new service has been initiated to allow for the preparation of government units’ budget estimates electronically, using a link in the e-government transformation network. The aim is to streamline procedures related to dealing with ministries, government departments and public authorities and establishments.
The circular requires all ministries and government entities to prepare their (current and developmental) budget estimates in line with the rules stated in the circular.
It urges all ministries and government entities to present their respective budget estimates for 2022 on or before July 29, 2021. A brief of the required budget allocation has to be approved by the head of unit and sent to the Ministry of Finance and Ministry of Economy.
© 2021 Apex Press and Publishing. All Rights Reserved.