Finance Ministry Organizes Introductory Meet on Streamlining Budget’s Fiscal Performance

Muscat, The Ministry of Finance today organized an introductory meeting on streamlining the fiscal performance of the State’s 2023 general budget.

The meeting was chaired by Abdullah Salim Al Harthy, Undersecretary of the Ministry of Finance, and attended by representatives of government units.

The meeting elucidates the procedures of the Financial Performance Control Initiative designed to ensure that all government units and departments adhere to their approved budgets in a manner that achieves efficient implementation of the 2023 State Budget and its economic and social objectives, notably by means of electronic tracking.

The meeting also reviewed the procedures of controlling financial performance and addressing challenges posed to government units during the implementation of the State Budget. It explored ways to improve and develop mechanisms of regularizing the fiscal performance of State Budget 2023.

The Ministry of Finance furthermore urged all government institutions to stick to submitting budget distribution statements on a monthly basis. Thus, government units are required to review and analyse their respective fiscal performance, while at the same time submitting feedback/comments to ensure the realization of key targets of the Budget in accordance with the determinants and principles upon which this year’s Budget was initiated.

Source: Oman News Agency