State Council’s Economic Committee hosts World Bank delegation
The Economic Committee of the State Council on Wednesday hosted a World Bank delegation from the Ministry of Finance in connection with providing technical support for the preparation of performance indicators to monitor the implementation of budgets.
The meeting was held in the presence of Sheikh Dr Al Khatab bin Ghalib al Hinai, vice chairman of the State Council.
At the commencement of the meeting, Sheikh Mohammed bin Abdullah al Harthy, head of the Economic Committee, welcomed the delegation, and explained the nature of its visit.
The meeting, which was held in the presence of the members of the Economic Committee of the council, addressed the objectives and procedures of budget preparations. These include the readiness of the system of preparation and implementation of the budget; the readiness of decision support systems based on the integrated performance; readiness of audit and oversight of performance of the financial, org-anisational and technical programme; the readiness of the legislative structure; and capacity building for the application as well as the development of governance frameworks to support transformation and follow-up.
The delegation also made a presentation on legislative oversight of the budget. The presentation - titled ‘Programme-based Budgeting and Legislative Oversight’ - highlighted the types of oversight, the stages of annual budget process, public financial accountability, its
benefits, disadvantages, the role of legislatures in global parliaments and the role of committees in global parliaments.
The presentation cited the example of the Netherlands, its budget procedure and its parliament oversight action. This was followed by showcasing the Australian model and the roles and responsibilities and the institutional arrangements in the parliament.