Nearly a billion allocated for development projects

Oman Sunday 01/January/2023 16:35 PM
Nearly a billion allocated for development projects

Muscat: The approved budget for 2023 allocated sum of OMR900 million for development projects, distributed as follows: 6.7 percent for the commodity production sector, 10.8 percent for the service production sector, 29.3 percent for the social segments sector, 42.1 percent for the infrastructure sector, and 11.1 percent for other sectors.

Spending on contributions and other expenditures in the 2023 budget was estimated at about OMR1.830 billion, which constitutes about 16 percent of the total public spending.

It is worth noting that two items were introduced (projects with a developmental impact) with sum of OMR200 million and (supporting the social protection system) with sum of OMR384 million.

The total endorsed spending in the state’s general budget for the fiscal year 2023 for social and basic sectors amounted to about OMR4.3 billion, or 38 percent of the total public spending, distributed as follows: 44 percent for the education sector, 22 percent for the social security and welfare, 12 percent for the housing sector, and 22 percent for the health sector.