Muscat: The new plan focuses on building a diversified, competitive and sustainable national economy, while accelerating the Sultanate’s gradual transition towards a low-carbon future.

The Eleventh Five-Year Development Plan outlines a target economic growth rate of around 4 per cent at constant prices, reflecting the government’s intent to sustain momentum in economic reform and long-term development.

The plan seeks to adhere to a financial sustainability approach by maintaining public debt levels within safe limits, diversifying non-oil revenues, promoting social development, environmental sustainability, governance and institutional efficiency, economic decentralization for the governorates, and enhancing labor market efficiency and employment opportunities.

The plan continues the strategic direction set under Vision 2040, with emphasis on strengthening economic resilience, enhancing competitiveness across sectors, and ensuring sustainable growth that balances development with environmental responsibility.