Oman slashes state budget $1.3 billion amid coronavirus impact

Oman slashes state budget $1.3 billion amid coronavirus impact

Oman has reduced its state budget by 500 million Omani riyals ($1.3 billion) as a result of recent cuts and will take new measures to stabilize the economy, state news agency ONA reported on Sunday.

Oman’s finance ministry this week directed all ministries to reduce development budgets by 10 percent and operating budgets by 10 percent.

Last month, the government cut the budget allocated to government agencies for 2020 by 5 percent.

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