SCP reviews country’s economic performance

Muscat: The Supreme Council for Planning (SCP) has held its first meeting this year to review Oman’s Economic Performance Report. The report indicated that the Omani GDP grew during the third quarter of 2018 by 15.3% at current prices, of which 3.4% was contributed by non-oil activities.
In other words, the growth of the GDP continued to be driven by the increase in total oil activities, including crude oil and natural gas. While the report stated a minor increase in inflation, it highlighted the rise in the non-oil exports during the previous period by 25% at the end of September 2018.
The meeting, presided over by Dr. Ali bin Masoud bin Ali Al Sunaidy, Minister of Commerce and Industry, Deputy Chair of the SCP, and attended by the SCP members, also reviewed the progress of the development projects within the Ninth Five-Year Development Plan (2016-2020), including projects that provide basic services to citizens, projects that promote economic growth, increase government investment and provide job opportunities.
In addition, the proposal of the General Framework and the measures taken to prepare the Sultanate’s first voluntary national report on the implementation of the 2030 Sustainable Development Goals (SDG), which will be presented to the United Nations General Assembly this year was discussed.
The meeting also discussed the executive status of other major development projects and ways to address the challenges facing some of them.
Also reviewed was the status of the reports and strategies prepared by the SCP General Secretariat, such as the Third Human Development Report and the National Population Strategy (2020-2040), as well as a report on the changes in the energy sector within the framework of the Sultanate’s economic diversification policies.