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Oman cuts salaries by 23 per cent amid cut in oil revenues and covid-19 pandemic

The Civil Service Council of the Sultanate has cut by 23 per cent the salaries of the new civil servants as Gulf country implement austerity measures as result of slimming oil revenues and effects of novel covid-19 disease.
The council in a statement said a PhD holder’s entry level salary would be reduced 23 percent to 1,035 rials ($2,689), while those with a bachelor’s degree would face a cut of 14 percent to 785 rials.
The Gulf country has been facing economic slowdown in the backdrop of the low oil prices and adverse effects respiratory covid-19 disease which has infected at 5,379 people.
To mitigate the effects the wealthy oil country has slushed govern spending and announced injection of liquidity into the banking system.
It also plans to cut spending in all civil, military and security ministries and units for 2020 by 10 percent to mitigate the effects of low oil prices and narrow its budget deficit, Bloomberg reports.

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Posted by on May 19 2020. Filed under Gulf News, Headlines. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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