MUSCAT: State Council approved the reports of the Expanded Economic and Financial Committee regarding the Eleventh Five-Year Development Plan (2026-2030) and the State Budget for the Fiscal Year 2026
This took place at the second meeting of the third regular session of the eighth term of the State Council, held under the chairmanship of Shaikh Abdulmalik bin Abdullah al Khalili, Chairman of the State Council, on Wednesday.
In his opening remarks, the chairman of the State Council said: “This meeting will discuss the draft Eleventh Five-Year Development Plan and the State Budget for the fiscal year 2026 both of which were referred by the Council of Ministers, along with the report of the enhanced Economic and Financial Committee,”
Al Khalili explained that the relevant government entities made considerable effort in preparing the draft Eleventh Five-Year Development Plan and the State Budget for the fiscal year 2026.
The meeting discussed the opinion of the Economic and Financial Committee regarding the Eleventh Five-Year Development Plan (2026-2030), Dr Dhafer bin Awadh al Shanfari, Chairman of the Economic and Financial Committee, explained in the committee’s statement that the Eleventh Five-Year Development Plan (2026-2030) coincides with the draft general budget for the fiscal year 2026 and the launch of the second phase of the Oman 2040 vision.
The State Council’s Economic and Financial Committee believes it is crucial for the Eleventh Five-Year Development Plan to focus on achieving a tangible impact on the lives of Omanis and on the importance of impact-based planning, which links inputs, activities, outputs, and final results and on measuring the actual change resulting from public policies, Al Shanfari said.
He noted that the enhanced Economic and Financial Committee came up with several conclusions that would contribute, alongside the government’s efforts, to addressing the challenges of the Tenth Five-Year Development Plan and the draft State Budget for the fiscal year 2026.
The State Council discussed the Economic and Financial Committee’s opinion on the draft state budget for the fiscal year 2026, referred by the Council of Ministers. Dr Dhafer bin Awadh al Shanfari, Chairman of the Economic and Financial Committee, said that the draft budget comes within the framework of completing the financial procedures and policies adopted by the government to improve the state’s financial indicators and achieve the desired economic transformation.
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