LEGISLATORS in both the Shura Council and Parliament’s financial and economic affairs committee will convene a session to discuss the 2023-2024 state budget after Eid Al Fitr holidays later this month.Shura Council financial and economic affairs committee chairman Khalid Al Maskati yesterday said an initial report on the national budget would be ready within two weeks.The new budget aims to cut down deficit drastically from BD2.3 billion in 2021-22 to BD569.7 million in 2023-24. The total revenue is estimated to reach BD6.57bn, divided into BD3.1bn in 2023 and BD3.47bn in 2024.“We are seeking to improve people’s living standards, secure more benefits for pensioners and develop government services through the new budget,” he said.

“But this needs to be matched with the government’s Fiscal Balance Programme and Recovery plans. Both committees in Shura and Parliament will have open meetings until consensus is reached and the budget is approved by both chambers.“There is optimism that the country’s economy is going in the right direction with the budget being vital to achieve development goals.”Shura Council’s legislative and legal affairs committee has already found no constitutional breaches in the budget following a separate meeting yesterday.

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