Muscat: The State Council today reviewed the Draft State General Budget for 2026 and the 11th Five-Year Development Plan (2026-2030). This took place during its hosting of Sultan Salim Al Habsi, Minister of Finance, and Dr. Said Mohammed Al Saqri, Minister of Economy.
According to Oman News Agency, the Council discussed the latest developments in the global and local economies during 2025 and reviewed the performance indicators in the various economic diversification sectors and the growth achieved during the current year across a number of priority development pathways.
Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy, presented a visual presentation covering the strategic objectives of the 11th Five-Year Development Plan. These objectives focus on building a diversified and sustainable economy, enhancing economic decentralization for the Governorates, raising the efficiency of social development, and developing the system of governance and institutional performance.
He also reviewed the plan's main themes and their importance, highlighting the assessment of macroeconomic performance and economic diversification sectors, and the extent of the plan's integration with Oman Vision 2040. He addressed the economic priority sectors and the criteria for their selection, which include converting industries, the digital economy, and the tourism sector. He affirmed that the plan aims to achieve balanced, competitive, inclusive, and sustainable economic growth.