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In light of the Royal Decree no. (2022/1) ratifying the State’s General Budget for the Fiscal Year (FY) 2022, the guide to State’s General Budget for FY 2022 presents the key financial indicators for 2021, and 2022 Budget estimates. The 2022 Budget has been prepared amid several challenges arising from the persistent consequences of the COVID-19 pandemic...
Over the past few years, the national economy experienced frequent fiscal challenges posed by a sharp drop in oil prices, lower oil demand, high public debt, and the implications caused by the Covid-19 pandemic. These challenges have adversely affected the Sultanate of Oman’s creditworthiness and borrowing cost. Moreover, the Sultanate of Oman was recently...