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Coronavirus: Oman orders all ministries to cut development budgets 10 pct

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Oman’s finance ministry has told all ministries and civilian government units to reduce approved liquidity for development budgets by 10 percent, state media said on Wednesday.

It also said the creation of government companies performing business activities would cease and priority would be given to the private sector.

On Tuesday, Oman had told all government agencies to cut their operating budgets by at least 10 percent this year to counter a slide in oil prices, including by reviewing salaries and benefits.

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Oman to cut government budgets by at least 10 pct amid coronavirus, low oil price