Supreme Council reviews economy

MUSCAT: The Supreme Council for Planning (SCP) on Wednesday held its 4th meeting for 2017 under the chairmanship of Dr Ali bin Masoud al Sunaidi, Minister of Commerce and Industry, SCP Deputy Chairman. The Council reviewed the report on the performance of the Oman economy and the expected GDP performance indicators as of the end of 2017. These indicators have given a good impression; thanks to the policies adopted by the Government in the management of the financial and economic condition during the past period and the response of the society and private sector with the measures taken by the Government.

The Council also reviewed the inflation rates, which are still at their low limits, as well as the stable performance of Muscat Securities Market (MSM).
Further, the Council reviewed performance and programmes of promising economic diversification sectors focused on by the 9th Five- Year Development Plan (2016 – 2020), as well as means of enhancing their contribution to the national economy, providing job opportunities for citizens particularly in the five sectors focused on by the current Five-Year Development Plan. The Council also reviewed some of the reports on the feasible investment opportunity in the different fields of technology to limit their negative effects.
This will be carried out through Oman urban development strategy for the different governorates. The Council also reviewed the steps and executive measures taken with regard to some development projects that have been approved by the Council. Additionally, the SCP reviewed the executive status report on the main projects, the proposed means to address the challenges facing some of these projects and the available financing alternatives during the upcoming period. It also reviewed other topics and took necessary decisions towards them. — ONA

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