State budget: stimulate economic growth. The great interest in the social dimension

it was yesterday announced details of the state budget for the fiscal year 2013, which disclosed through packet goals for stimulating economic growth through increased government spending and private development spending,
and to provide financial allocations needed to recruit new in various units of the state administrative apparatus, institutions and state-owned companies, and increase spending on education and training, health, housing and social care to maintain absorption rates current outputs general diploma in higher education institutions, and provide allowances for training internal and external coupled operator, and expansion in the provision of health services in different provinces of the Sultanate, and continue to support the housing sector through programmatic assistance and residential housing loans, Add to enhance allocations housing loans provided by Oman Housing Bank, and the provision of financial allocations needed for Social Security and centers to meet the social, and the provision of financial allocations to support some of the goods and services such as electricity, water, fuel and basic food commodities, and complete the implementation of infrastructure projects such as airports, ports, roads and the development of industrial zones and water projects and sanitation and provide the necessary liquidity to implement development projects planned to start in 2013, and the financing of the budget deficit partly through the issuance of bonds development in the local market in order to encourage savings and increase the efficient use of domestic savings, and the conversion of financial surpluses that may result from high oil prices to promote savings and financial reserves government , and to maintain the current level of public debt in terms of the absolute size and ratio to GDP.
HE Darwish bin Ismail Al Balushi, Minister Responsible for Financial Affairs yesterday during a press conference to reveal details the state budget: The government is working to diversify its sources of income and enhance the performance of various economic sectors, especially with the survival of the contribution of various sectors such as tourism, industry, agriculture and fish at low levels of income and that certainly does not meet the ambitious and live up to expectations. He said the government intervened to save the Wave bond purchases to protect the land purchase bonds worth $ 250 million, by the time they reach the currently worth 400 million rials. Demanding creditors speed re-work on the establishment of the project and only the government would intervene to own land.
HE added: we have to raise the volume of support for the Oman Housing Bank of RO 40 million in 2011 to RO 80 million in 2013 to meet the growing demand for loans and support for citizens who wish to establish their housing projects.
And His Excellency pointed out that promotions continues normal and 50 million riyals to upgrade 2008 batch with increments, and said: There are consultations with pension funds on improving the level of performance through integrated into one fund, bringing the capital and can thus be established entity strong institutional owns good financial strength .. There has funds in its total two billion riyals there funds have 200 million riyals and therefore their integration with each is a positive step we hope to be realized. He pointed out that a study carried out by the Ministry of Manpower to improve pensions in the private sector and the opportunity to find a convergence among pension between the government and the private sector, and we hope to come out of this study recommendations serve workers in this sector.
Also, Ma'aleh announced the establishment of 3 new companies in the field of fisheries and company in the area of ​​food security.
The Minister explained: that the government is monitoring the interest rates of inflation and efforts taken to support food prices praising the role played by the consumer protection in controlling the market and follow the price which no doubt contributed to maintain moderate levels of inflation, adding that the government is keen to keep these ratios at appropriate rates between 3 to 3.5 percent.
The minister said: The budget includes borrowing net amount (350) million riyals which $ (200) million riyals from the local market and the amount of (150) million riyals from foreign banks and will use this amount to pay off some outstanding loans and to finance some development projects. As For aid, the aid planned from the GCC one billion dollars annually for a period of (10) years فجاري now identify projects that will use the amount of aid to finance part of the cost of financial and projects that will be used aid to finance is legislator railway and road project Batinah rapid and projects electrical interconnection and linking water and provide some infrastructure in the industrial zone in Duqm and other industrial areas, where all these projects come within the framework of projects that lead to economic integration and serving the GCC common market and facilitate the flow of commercial traffic and the movement of citizens between the GCC countries.