Muscat: His Majesty Sultan Haitham bin Tarik issued two significant Royal decrees today, marking a pivotal step in Oman's economic and financial planning.

According to Oman News Agency, the first decree, Royal Decree No. (1/2026), approves the 11th Five Year Development Plan for the period 2026-2030. This plan, presented to the Council of Oman, outlines strategic goals aimed at steering the nation's development over the next five years. The decree's first article endorses this plan, with its objectives detailed in Annex (1). Article (2) specifies that the implementation of the plan will follow the economic and financial frameworks outlined in Annex (2). Furthermore, Article (3) mandates all state administrative units and public legal entities to execute the plan while adhering to existing laws and bylaws.

In addition, Article (4) highlights that the Ministry of Economy will release a Strategic Programs Compendium in the first quarter of 2026, with projects to be defined annually in coordination with relevant authorities. The Ministry of Economy is also tasked, under Article (5), with monitoring and evaluating the implementation of these strategic programs, adapting to local, regional, and global changes. Finally, Article (6) declares the decree's publication in the Official Gazette and its enforcement beginning January 1, 2026.

The second decree, Royal Decree No. (2/2026), pertains to the ratification of the State's General Budget for the fiscal year 2026. Article (1) of this decree confirms the budget as outlined in the accompanying tables and schedules. Article (2) instructs state administrative units and public legal entities to implement the budget within their respective jurisdictions. This decree will also be published in the Official Gazette and will take effect starting from January 1, 2026.