MUSCAT: Oman’s economy is on the right path towards recovery, His Excellency Dr. Nasser bin Rashid Al-Maawali, Undersecretary of the Ministry of Economy said.
Al Maawali explained that the rate of expected growth in Oman’s economy for this year, according to the International Monetary Fund, is expected to be 2.5%, the second best rate of growth in the GCC region.
According to Al Maawali, the average target growth of the national economy from 2021 to 2040 will reach 5%.
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Earlier, Sultan Salim Al Habsi, Minister of Finance, has said that total general revenues of the State Budget 2022 are estimated at RO 10.58 billion, 6% higher than revenues expected due to be collected by the end of this year (2021). Oil and gas returns are set to comprise 68% of total revenues, against 32% for non-oil and gas revenues.
