Oman's public revenues grew 28.71% in 2021

The Majlis A’ Shura is hosting Dr. Saeed bin Mohammed al Saqri, Minister of Economy, in its eighth regular session of the third annual session.

A’ Shura will discuss issues related to economic diversification as per Oman Vision 2040, the impact of the Covid-19 pandemic on the national economy, strategic programs of the tenth five-year plan (2021-2025), and the ministry’s plan in the short-term, including for job seekers.

Highlights:

The GDP grew by 12.7%, oil sector-related activities by 26.5%, the non-oil sector by 7.8%, and the manufacturing sector by 25.8% at the end of the third quarter of 2021 compared to the same period in 2020.

The number of Omanis employed in 2021 is 68,373 (both men and women).

Of over 68,000 Omanis employed in 20201, 19,097 were in the government sector (28%), 49,276 in the private sector (72%). 13,620 people were appointed for the first time.

The mining sector has the highest Omanisation rate, with a rate of more than 60%.

An amount of RO54 million has been allocated to be invested in food_security projects, including the purchase of fishing vessels, fish and shrimp farming projects.

In terms of public finance performance, the state’s public revenues increased until the end of 2021 by 28.71% compared to the revenues of 2020 as a result of the rise in oil prices.