Oman aligns new five-year plan with Vision 2040
Economic roadmap links long-term Vision 2040 goals with medium-term priorities, projecting steady growth and broader public participation
MUSCAT, Oman (MNTV) — Oman is preparing to launch its Eleventh Five-Year Plan with a focus on integrating long-term national objectives with short- and medium-term economic priorities, officials said.
Speaking at a forum organized by the Oman Economic Society, Economy Minister Dr Saeed bin Mohammed Al-Saqri assessed the performance of the national economy from 2020 to 2025.
He highlighted global challenges during the period, including protectionist trade measures, climate change pressures, inflation, and rising international debt levels.
Al-Saqri said domestic purchasing power remains resilient and has not been significantly affected by inflation. He noted that around 35,000 Omanis are employed each year, exceeding initial targets set under the Tenth Five-Year Plan.
The Ministry of Economy projects economic growth of 2.6 percent in 2026, compared with an estimated 2.2 percent in 2025, reflecting steady recovery and diversification momentum.
The upcoming 2026–2030 plan aims to deliver tangible development outcomes while ensuring broad community participation in its preparation. Al-Saqri said the framework is designed to align institutional work across government and connect program planning with Oman Vision 2040.
Public debt declined by the end of the second quarter of 2025 to RO14.1 billion, down from RO14.4 billion during the same period in 2024. Non-oil activities accounted for 73 percent of the economy at constant prices in 2024, while average annual growth during 2021–2024 was estimated at 5 percent.
The minister also highlighted extensive legislative reforms enacted during the year, including banking and investment laws, the Public Health Law, Electronic Transactions Law, Financial Law, and regulations governing special economic and free zones.
Additional measures covered real estate regulation, individual income tax, and the collection of state revenues.
He added that RO577 million was allocated for social benefits in the 2025 state budget, underscoring the government’s commitment to social protection alongside economic reform.
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