Public
Finance
Public Finance, particularly in
oil producing countries, assumes a critical role in determining
the path
of development. The patterns of public
expenditure and instruments of funding have direct impact on
general economic
activities, on macro fundamentals as will as on prices of
commodities, exchange and interest rates.
The Seventh Five-Year Plan
has,
therefore, aimed the embracing sustainable fiscal
policies based on increasing government non-oil revenues,
rationalizing government expenditure, and
augmenting government financial
reserves, in addition to keeping the public debt within
internationally accepted risk-free limits. Its
ultimate objective is, to
reinforce the stability of the national economy and encourage its
growth.
