Muscat: During its second regular meeting of the 1st and second annual sitting of the 8th term under the chair of Saleh bin Said Masan, Head of the Economic and Financial Committee the Economic and Financial Committee at Majlis A'Shura today reviewed its study on the draft state budget for 2017 which was referred by the government.
During the meeting, the members of the Committee shared views on the importance of linking the state budget for the fiscal year 2017 with the 9th five-year plan (2016-2020) and the basic social and economic pillars. They stressed also the importance of taking into consideration the criteria for prioritizing the development projects, the overall world economic developments, the performance of the national economy and oil price estimates in the light of the sharp fluctuation of oil prices.
On the other hand, a working paper alongside with certain indicators by the Secretariat General have been presented on the draft state budget for 2017. The indicators include the state revenues, public expenditure, government investments in companies, the current deficit and sources of financing the deficit.
The Committee also discussed specifying a date for hosting some governmental agencies about the draft state budget for the fiscal year 2017.