Oman's Financial Affairs and Energy Resources Council has formed a specialised working group to study public spending and the means to reduce it amid the slump in oil prices, said a report.
The actions take
Falling oil prices have led to welcome reforms of the subsidy programmes in Gulf countries, but they urgently need new ways to distribute their oil wealth and shrink their public sectors, the World Bank's chief economist for the region said
Yemen's president unveiled a clampdown on public sector spending on Thursday, including a feasibility review of state-owned companies and a ban on all but economy class travel for ministers in the Arabian Peninsula country.
Saudi Arabia has been ranked seventh globally for its high public spending on education in the latest 'Learning Curve Index' published by Pearson, a leading learning company, which rates the educational performance of 39 countries.
The UAE government plans to increase public expenditure by 15 per cent to Dh140 billion ($38 billion) during the period from 2014 to 2016 in line with its strategy to provide better services to the citizens, said a report.