MUSCAT: The Ministry of Finance hosted a meeting in Dhofar Governorate on Sunday, April 27, 2025, to showcase its latest projects and programmes, as part of ongoing efforts to strengthen communication with regional directorates and local government entities. The session witnessed the participation of a number of officials representing regional departments across the governorate.

Speaking during the event, Abdullah bin Salim Al Harthy, Under-Secretary of the Ministry of Finance, stressed the importance of institutional communication and the integration of government efforts. He highlighted that the Ministry’s projects and initiatives are closely aligned with the goals of Oman Vision 2040, supporting the drive towards effective, accountable, and sustainable financial governance.

“This meeting is part of our ongoing commitment to strengthening coordination with regional authorities and ensuring that the Ministry’s objectives are well understood across all levels of government,” said Al Harthy. “Our projects aim to provide a strong foundation for public financial management that is resilient, transparent, and geared towards national development priorities.”

Reflecting on recent achievements, he pointed out that the Ministry has made tangible progress in advancing the financial work system over the past few years through the launch of several strategic initiatives. These efforts, he noted, have resulted in a significant reduction in the ratio of public debt to GDP, a lowered dependence on external financing, and the realisation of direct financial savings that have allowed for greater investment in development projects.

“We have witnessed positive outcomes as a result of these reforms,” he said. “The reduction in public debt relative to GDP and the lower reliance on foreign borrowing reflect our commitment to sustainable fiscal practices. Furthermore, the financial savings we achieved have been channelled towards supporting key development priorities and enhancing public services.”

He highlighted the importance of the next phase, particularly given the volatility seen in global financial markets. He stressed that the Ministry is determined to continue efforts to diversify Oman’s sources of income beyond oil revenues, maintain prudent expenditure management, and safeguard the delivery of essential services without disruption.

“We are fully aware of the challenges and opportunities that lie ahead,” he said. “Strengthening non-oil revenue streams and maintaining strict expenditure control will remain at the heart of our financial management strategy to ensure that essential public services continue to be provided efficiently and sustainably.”

The meeting served as a platform to review several of the Ministry’s strategic initiatives that seek to reinforce the effectiveness and sustainability of public financial management. Among the projects and programmes presented were the Confirmed Government Financial System, designed to standardise and improve financial operations across government entities, and the Confirmed Treasury Account, aimed at ensuring greater control and efficiency over public funds.

In addition, the Ministry introduced the National Registry for Government Assets, which seeks to consolidate and better manage the state’s assets, and outlined its efforts in implementing Programme and Performance Budgeting to link public spending more directly to measurable results and policy objectives. Officials also discussed the updated frameworks for the Pricing of Government Services, efforts to tighten the Control of Public Expenditure, the ongoing Update of the Executive Regulation of the Financial Law, and the rollout of the new Beneficiary Services System intended to improve service delivery and responsiveness to citizens’ needs.

According to the Ministry, the Dhofar meeting is part of a broader strategy to raise awareness of financial governance initiatives, promote transparency, and foster best practices across all levels of government administration. The emphasis remains on enhancing the quality of public financial management while aligning all efforts with the broader national priorities outlined in Oman Vision 2040.

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