Saturday 07 / September / 2024
Muscat: The Anglo-Omani Society in London reviewed Oman's economic achievements under the wise leadership of His Majesty Sultan Haitham bin Tarik, expecting recovery of the Omani economy with the support of the fiscal plans and programmes launched by the government and the increase in oil prices.
The statements came during a lecture organised by the Anglo-Omani Society in London and delivered by Dr. Khalid bin Said Al Ameri, chairman of the Anglo-Omani Society in London, in which he talked about the laws and legislations supportive to economic growth , expected to be issued in 2023, including the Labour Law, the Social Protection Law and the Public Debt Law.
He said that during the COVID-19 pandemic, the Omani economy had witnessed the most difficult time in its history, but thanks to the Royal Directives of His Majesty the Sultan, the economic reforms and the initiatives, growth rebounded. The new stage of recovery is supported by the increase of oil revenues, he added.
To improve business environment and attain fiscal sustainability and diversification of sources of income and to provide sources of finance with competitive interest rates for the various projects and to attract foreign investments through integration of investments with Oman Investment Authority and the development of local projects, updating the laws and legislations in the banking sector have been initiated, he added.
He also said that His Majesty the Sultan has directed to fix the fuel prices till the end of 2023, exempting citizens who borrowed from the housing loan funds of the Sultan’s Armed Forces and the Royal Guard of Oman whose monthly salaries are less than OMR450.
