Muscat, The Supreme Council for Planning (SCP) today held its 3rd meeting for 2018 under the chair of Dr. Ali bin Mas’oud al-Sunaidi, Minister of Commerce and Industry, SCP Deputy Chairman.

The SCP reviewed a report on performance of the Omani economy. The report pointed out that the Omani economy has maintained up to now

positive growth rates as the GDP grew by 6.5 percent at current prices in the first quarter of 2018, driven by the rise in total oil activities. Crude oil activities increased by 1.1% while gas activities increased by 100 percent.

Further, the Council said that the contribution of the non-oil sectors grew by 2 percent during the first quarter of 2018. The manufacturing sector registered a growth of 17.8 percent while other manufacturing industries recorded an increase by 22 percent. The mining and quarrying sector recorded a growth of 15 percent. The basic chemicals industry sector grew by 14 percent. The agriculture and fishing sector grew by 7.6 percent. The construction sector decreased by 12.6%. The wholesale and retail trade sector grew by 6.5%. The hotel and restaurant sector recorded a growth of 7.2 percent. The transport, storage and communications sector rose by 6.9 percent. The real estate, leasing and business activities sector grew by 6.5 percent. Other services decreased by 3 percent at current prices compared to the same period of 2017.

The SCP also reviewed the initial steps for the preparation of the Tenth Five-Year Development Plan (2021-2025), which is being developed, in cooperation with the various government units. The Tenth Five-Year Development Plan (2021-2025) is considered the first development plan within the framework of the future vision (Oman 2040).

The Council also reviewed the position of work progress and rates of achievement of the strategic development projects within the five-year plan. Many vital projects have been completed in the logistics, tourism and fisheries sectors. The Council also discussed other topics related to urban planning upon which appropriate decisions were taken.

Source: Oman News Agency