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Performance-Based Budgeting

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An overview of the project

The State`s General Budget is a crucial tool for achieving social and economic objectives. The Ministry of Finance (MOF), representing the Government of the Sultanate of Oman, is committed to enhancing public expenditure efficiency and achieving sustainable development goals in line with Oman Vision 2040. The MOF aims to develop a public financial management system by transitioning from item budgeting to Performance-Based Budgeting (PBB). PBB aims to translate public policy and objectives into actionable programs in the budget and link the goals of Oman Vision 2040, Five-Year Development Plans, and Government units` goals with programs and activities. Moreover, the PBB will help Government entities manage financial allocations more effectively.

Objectives

  • Achieving maximum efficiency in allocating available resources.
  • Achieving geographically balanced development according to the strategic priorities.
  • Achieving high levels in terms of performance and accountability.
  • Enhancing the efficiency of public spending management.
  • Providing better fiscal planning.

The results of implementing the PBB:

Financial Planning

1

  • Enabling the MOF to establish a clear relationship between the allocation of budgets and national objectives.
  • Linking all expenditures and revenues with the strategic and operational plan of Government units.
  • Preparing the expenditures or costs of the development budget based on feasibility studies and its impact on financial, economic, social, and environmental indicators for the Government units and society.

Expenditure Rationalization

2

Analyzing the volume of expenses and the current budget for the previous year, comparing it to the current year, and calculating the amount of savings or rationalization of spending.

Oversight and Quality Assurance

3

Following up the indicators, measuring the results, and preparing fiscal performance reports related to Performance-Based Budgeting, which contribute to oversight and quality assurance.

Economic Diversification and Financial Sustainability

4

• Monitoring and analyzing the revenue development and comparing the previous year’s revenue with the current year.

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