Fiscal Management In Gulf Governments

In the years following the global financial crisis and the oil price shocks of 2014, Gulf governments have grappled with various fiscal challenges, responding with a focus on fiscal consolidation through a reduction in spending followed by revenue uplift measures.

Despite apparent symptoms across government budgeting, spending and planning, there however was a lack of focus on fiscal management – the mandatory requirement to balance finances in the short- and long-term – was the less obvious and highly pressing issue at hand.To assist Governments in taking on improving the efficiency, transparency and accountability of their fiscal institutions, Oliver Wyman proposes the implementation of our end-to-end fiscal management framework through which governments can help improve their budgeting and planning functions and build a 360° view of their finances. Not only will this help Gulf nations balance public finances more effectively, but it can also equip them with the processes, capabilities, and systems to spend more productively, better withstand future fiscal shocks, and manage finances to reinvigorate their planned economic transformation over the next 10 to 20 years.

End To End Fiscal Management Initiatives