Muscat: The Sultanate of Oman has witnessed economic growth due to the improvement in the performance of oil activities, which recorded a growth of 25.5 per cent in 2021, non-oil activities grew by 7.8 per cent, the Minister of Economy said.
His Excellency Dr. Saeed bin Muhammad Al Saqri, Minister of Economy, during the talk show “With the Youth” said that the efforts made by the government represented in economic stimulus programmes and financial sustainability related programmes, raising the efficiency of government spending and other performance efficiency in general which led to improved economic performance and higher overall performance.
His Excellency indicated: “An increase in the inflation rate by 4.4 percent is expected as a result of the repercussions of the “Covid 19” pandemic and the challenges of supply chains, and it is addressed through several tools, including spending control, reviewing wages paid, the interest rate in banks and interest rates on government bonds, and through which it can be controlled at least the internal inflation rate.
His Excellency added: “The Ministry of Economy and many government agencies launched a number of economic stimulus programmes to treat the groups affected by the “Covid 19″ pandemic, which had a role in maintaining the continuity of many economic activities, especially small and medium enterprises.”
His Excellency stressed the importance of adhering to the financial framework programme of the tenth five-year plan and its economic framework to improve performance in general, and it is expected that 27,000 jobs will be generated annually.
His Excellency the Minister of Economy said: The Ministry is working on automating the follow-up of the performance of the various economic sectors and linking with ministries and other government agencies to follow up the performance of these economic sectors and disseminate the performance of economic sectors through the National Centre for Statistics and Information.
