Expanded Economic Committee of the State Council concludes discussing the 2021 Budget and refers it to the next Ordinary Sitting
01 Dec 2020
The Expanded Economic Committee of the State Council at its meeting today, concluded discussing the draft State Budget for the year 2021 and the report of Majlis A’Shura on it.
During its meeting, the committee comprising of honorable members of the Economic Committee and the heads of the standing committees of the Council, headed by Hon.Sheikh Mohammed bin Abdullah Al Harthy, Economic Committee Head In the presence of the Secretary-General of the Council, were briefed on the foundations and assumptions on which the Budget for the fiscal year 2021 is based.
The meeting discussed various aspects related to the project, including public revenues and aspects of spending , touched on a range of economic and financial aspects, and analyzed statistics related to the Sultanate's financial position for the year 2021.
The committee appreciated the efforts made by the government in preparing the draft budget, which took into account the challenges of improving the main indicators of financial performance, and the pursuit of the economic and social goals for which the budget was drawn up in line with the tenth five-year development plan.
The committee also appreciated the observations made by Majlis A’Shura on the draft budget.
Following discussions, the committee decided to refer its report on the draft budget, its observations and opinions about it to the next Ordinary Sitting of the Council for discussion, and then return it to the Council of Ministers, together with the recommendations of the two Councils.
This is in accordance with Article (58) bis (40) of the Basic Law of the State issued by Royal Decree No. (39/2011), which states that: “The draft development plans and the annual budget of the state shall be referred by the Council of Ministers to Majlis A’Shura to discuss it and make its recommendations regarding it within a month at most from the date of its referral to it, then refer it to the State Council for discussion and make its recommendations regarding it within fifteen days at most from the date of its referral to it, and the State Council Chairman must return them to the Council of Ministers, accompanied by the recommendations of the two Councils.”
During the meeting, the committee reviewed the tenth development plan (2021-2025), and the report of the State Financial and Administrative Control Authority for the year 2018 and reviewed the latest issues on its agenda, and took appropriate decisions regarding them.