Monday 24 / November / 2025
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.
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.
For his part, Abdullah Salim Al Harthy, Undersecretary of the Ministry of Finance, presented a review that included the most anticipated results of the State General Budget for the fiscal year 2026 and the social and economic priorities on which the budget focuses. These priorities include education, health, social security and welfare, employment opportunities, stimulating the private sector, in addition to housing and roads.
The presentation also covered the global and local economic outlook, the financial framework of the 11th Five-Year Development Plan (2026-2030), and the estimates of the Draft General Budget for 2026, including its financial alternatives and options, in addition to showcasing the most prominent investment projects expected to be implemented within that year's budget, and the adopted financing and borrowing strategy.
Sheikh Abdulmalik Abdullah Al Khalili, Chairman of the State Council, affirmed that what was presented, proposed, and discussed during this meeting constitutes an important tributary for enhancing legislative principles and strengthening institutional communication channels between the Council and the Government.
Al Khalili also indicated that the relevant committees will undertake a thorough and accurate study of the data and observations presented, leading to the crystallization of systematic recommendations that support the pathways for preparing the State's financial and economic policies.
He added that the Council will continue to perform its legislative role with high efficiency and follow up on these pivotal files in a way that enhances the effectiveness of institutional work and contributes to establishing the foundations of sustainable development, stressing that the coming phase will witness greater coordination and integration in serving the national interest.
