There will not be any cut in wages and salaries as well as the basic services provided to citizens in Oman’s 2017 budget, the head of Economic Committee of Shura Council, Saleh Musin said.

According to Musin, the Shura Council discussed the 2017 general budget, the economic challenges which Oman faces, spending controls and the budget deficit with the Minister Responsible for Financial Affairs, Darwish Al Beloushi in a closed session.

Musin said that, “To increase non-oil revenues, Oman will increase taxes on individuals but the Economic Committee affirmed that levying taxes should apply on rich people, not middle and low income individuals.”

“The region is entering an economic recession due to plunging oil prices,” Musin said.

The 2016 budget projects 3.3 billion Omani rials (Dh31.47 billion) in deficit spending for 2016, which, it will try to reduce by improving the non-oil revenues as well as cutting expenditures.

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Nandini