MUSCAT: Oman witnessed a strong economic growth in 2021, thanks to the rationalisation programs implemented by the government and
the overall performance across all sectors despite the challenges faced due to COVID-19, the country’s Minister of Economy said.
His Excellency Dr. Said Al Saqri said that the economic growth is attributed to the overall improvement in the performance of oil activities, which recorded a growth of 25.5 percent in 2021, and the growth of non-oil activities by 7.8 percent.
Al Saqri added that the efforts made by the government in raising the efficiency of spending led to the improved economic performance and higher overall performance in the economy.
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The minister indicated that the fiscal balance program will control and rationalize government spending, “introduce some taxes such as value-added tax, and reconsider some other procedures related to rationalizing and improving the performance of public money.”
According to the minister, “there was a discrepancy in the performance of the
economic diversification sectors during the ninth five-year plan.”
“It is natural for the tourism sector to decline due to the pandemic, and there are other sectors that have achieved the desired goals, such as the manufacturing sector, which has achieved a growth of 9 percent and the mining sector by more than 50 percent,” Al Saqri noted.
The Minister said the government is expected to generate 27,000 jobs for Omani citizens annually.
