MUSCAT: His Majesty Sultan Haitham bin Tarik has approved the medium-term fiscal balance (sustainability) plan (2020-2024), which includes several initiatives and programs aimed at setting rules for the financial sustainability of the Sultanate, reducing public debt, and raising the efficiency of government expenditure.

This will be done by directing it towards national priorities, increasing government income from non-oil sectors, enhancing the state’s financial reserves, and improving the return on investment of government assets in a way that strengthens the ability to face any financial obstacles and challenges and supports the economic growth.

His Majesty the Sultan issues his Royal directives to set an integrated national system of social protection aimed at safeguarding low-income people and social security from any expected impacts as a result of implementing the measures and procedures included in the plan.

Based on His Majesty’s keenness to continue promoting the economic sector and the developmental movement in the Sultanate, he issues royal orders to implement a number of development projects worth RO 71 million across various governorates of the Sultanate. Oman Observer