MUSCAT: The first year of the 10th Five-Year Development Plan has witnessed a remarkable growth in 2021 following economic diversification in some sectors, the Ministry of Economy said in a report.
“Many economic diversification sectors targeted in the 10th Five-Year Development Plan (2021-2025) achieved remarkable growth rates (at current prices) between the 2021 target and the actual as of June 2021,” the Ministry of Economy said.
“There is a notable economic achievements and quantum leaps in enhancing the contribution of economic diversification sectors during the first year of the 10th Five Year Plan reflecting the sincere efforts made in order to achieve the Plan’s targets,” MOE said.
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Manufacturing sector registered 34.2% growth by the end of June 2021, while the targeted growth rate is 8.7% for 2021. While the expected growth rate for transport storage and communication sector is 7.9% in 2021, while the target achieved by the end of June 2021 was
15.8 per cent. Fisheries sector also registered 21.9% of growth while the projected rate was 9%.
“Rapid implementation of development projects to complement the transport, health, education and social services infrastructure,” the statement added.
