The plan represents a pivotal part in advancing financial and social transformation, constructed on complete and sectoral insurance policies targeted on effectivity, sustainability and competitiveness.
It locations explicit emphasis on fiscal sustainability and financial diversification, which the federal government has recognized as crucial to safeguarding and sustaining long-term progress.
Low-carbon progress
A central precedence of the plan is a gradual transition in the direction of a low-carbon financial system, alongside the implementation of sustainable environmental insurance policies. These measures align with world efforts to mitigate local weather change and protect pure sources for future generations.
The Eleventh 5-12 months Growth Plan is structured throughout three time-bound work programmes:
- The First Work Program (2026–2027)
- The Second Work Program (2028–2029)
- A Complementary Work Program in 2030 devoted to analysis and preparation for the Twelfth 5-12 months Plan
Oman Growth Plan 2026 – 2030
From a planning perspective, the framework is organised round two principal pathways. The Financial Pathway focuses on leveraging financial levers to handle challenges, drive sustainable diversification, improve export capability and generate employment.
The Developmental Pathway concentrates on strengthening infrastructure and assembly developmental wants to attain balanced social and environmental progress, whereas elevating family incomes according to the ambitions of Oman Imaginative and prescient 2040.
Dr. Mentioned Mohammed Al Saqri, Minister of Financial system, mentioned that the plan focuses on selling promising financial sectors with excessive progress potential, robust job-creation capability and significant contributions to Gross Home Product.
He recognized Manufacturing Industries, Tourism and the Digital Financial system because the three core sectors, supported by enabling sectors together with Mining, Meals Safety, Renewable Vitality, Transport and Logistics, in addition to Schooling and Well being.
He added that the Tenth 5-12 months Plan (2021–2025) generated 175,000 job alternatives, whereas the brand new plan is predicted to create 300,000 positions throughout the private and non-private sectors between 2026 and 2030.
This equates to 60,000 alternatives yearly, comprising 10,000 within the authorities sector and 50,000 within the non-public sector.
Progress forecasts and funding wants
Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Financial system, highlighted optimistic financial projections for 2026, with anticipated progress of 4 per cent and inflation maintained at 1.4 per cent.
He mentioned preparatory work on the Eleventh 5-12 months Growth Plan started in July 2023 and included broad-based group participation to make sure alignment throughout state establishments and with the aims of Oman Imaginative and prescient 2040.
Dr. Nasser famous that the plan requires extra investments estimated at OR15.6bn ($40.6bn), directed towards key financial and social sectors to speed up progress and help a goal fee of 5 per cent.
The plan units out formidable macroeconomic targets, together with GDP progress of 4.6 per cent at present costs and 4 per cent at fixed costs, an investment-to-GDP ratio of 28 per cent at present costs, FDI inflows equal to 11 per cent of GDP, and an inflation ceiling of two per cent.
It additionally goals to boost the non-public sector’s contribution to GDP at present costs to 56 per cent, with a personal investment-to-GDP ratio of 21 per cent. Focused progress charges embody 4 per cent for non-oil actions and a pair of.6 per cent for oil actions at fixed costs.
Excessive-potential sectors in Oman
Excessive-potential sectors are anticipated to guide enlargement, with focused progress of 5.9 per cent for Manufacturing Industries, 10.8 per cent for the Digital Financial system, and 5.7 per cent for Tourism.
Supporting sectors are projected to develop at a mean of 4.2 per cent for Agriculture and Forestry, 5 per cent for Fisheries, 6.2 per cent for Mining, 7 per cent for Transport and Logistics, 3 per cent for Schooling and three.5 per cent for Well being.
The monetary framework for the plan is predicated on an assumed oil worth of $60 per barrel. Common normal revenues are projected at OR11.556bn ($30bn) over the plan interval, in contrast with common public expenditure of OR12.222bn ($31.8bn), leading to an estimated common deficit of OR666m ($1.75bn).
Key fiscal indicators embody elevating non-oil revenues to 37.4 per cent of complete revenues by the top of the plan. Annual improvement spending is estimated at OR900m ($2.3bn), with an extra OR400m ($1bn) allotted yearly for financial transformation tasks.
Common annual allocations for social safety are projected at OR668m ($1.75bn).
The plan anticipates a significant enlargement in labour market programmes, strengthening the position of the Ministry of Labour’s Coaching and Employment Help Centre, enhancing employment frameworks for residents within the non-public sector, and growing the position of governorates in producing sustainable job alternatives.
New jobs in Oman
Financial modelling suggests round 700,000 job alternatives could possibly be created in the course of the plan interval, together with roughly 300,000 direct roles for Omanis throughout the private and non-private sectors.
Personal-sector employment for Omanis is predicted to be concentrated in retail (34.2 per cent), building (29.8 per cent), trade (10.6 per cent), tourism (8.7 per cent) and transport (5.5 per cent).
In complete, the Eleventh 5-12 months Growth Plan contains 190 strategic programmes spanning the priorities of Oman Imaginative and prescient 2040, alongside devoted initiatives for the Info and Communication Know-how sector and for youth and entrepreneurship.
