Supreme Council reviews corona effect on Oman's economy

Business Monday 22/June/2020 17:31 PM
By: Times News Service
Supreme Council reviews corona effect on Oman's economy

Muscat: The Supreme Council for Planning (SCP) on Monday held a meeting to discuss the expected impact of COVID-19 on the Oman's economy and the measures taken by the Supreme Committee to minimise its effect.
Presided over by Dr. Ali bin Mas'oud Al Sunaidy, Minister of Commerce and Industry, SCP Deputy Chairman, the meeting discussed the measures taken by the Supreme Committee for minimising the effects of the pandemic on private sector enterprises and entrepreneurship.
Further, the Council hailed the generous directives to form a committee emanating from the Covid-19 Supreme Committee to handle the economic impacts of the coronavirus pandemic.
It also addressed the impacts of financing the development budget as a result of the oil prices slump during the past months and ways of dealing with them that include rescheduling the implementation of projects according to priority, and putting forward some projects that can be executed in partnership with the private sector.
While reviewing the initial features of the draft tenth five-year plan (2021-2025) and the measures taken by the working team formed with various government and private institutions, the Council also discussed the the plan and the programmes that will be included as the first stage to implement the future Oman vision 2040, taking into account the conditions and challenges facing the economies of countries, including the Sultanate at this stage.
The Council also reviewed indicators of the international reports on the expected recovery during 2020-2021. It also valued the efforts made by the participants in devising the plan.
The Council also discussed the executive position of the draft National Development Strategy, its outputs and the proposed urban alternatives for urban development at the level of each governorate. It also viewed a report on the executive stages of strategic projects and major development projects, economic diversification projects, and the performance of national strategies and programmes.
The Supreme Council for Planning (SCP) held its second meeting for 2020 on Monday.