MUSCAT: His Majesty Sultan Haitham bin Tarik invoked a spirit of confidence and renewal on Sunday, proclaiming that the country would ultimately thrive despite hard economic times. 

“We are all aware of the challenges imposed by the current global conditions, and their implications to the region and to us, since we are part of this world, influencing it and are influenced by it,” he said addressing the nation. 

In his second public speech since assuming power in January, His Majesty said the government would work to reduce public debt and restructure public institutions and companies to bolster the economy.

“We will direct our financial resources in the best way that will guarantee reducing debt and increasing revenues,” he said in the televised speech on Sunday. 

His Majesty also promised to evaluate the performance of government institutions. “We will fully revise the work of government companies, with a view to upgrading their performance and efficiency, and enabling them to strongly contribute to the economic system.”

“We will also direct all government departments to adopt efficient governance that leads to a balanced, diversified and sustainable economy.”

Internally the goverment will focus on modernizing the education system, science and development. They would be the country’s main national priorities, His Majesty said. 

His Majesty also thanked private sector for playing a key role in the country’s development. “We would also like to appreciate the private sector’s commendable role in the national development, hoping that this sector will maximise its role. Our full gratitude and appreciation for every one who participates in building Oman,” His Majesty added.