Economic
Oman revises 2026 budget to boost non-oil growth
Oman's Ministry of Finance has approved an updated 2026 budget focusing on public investment in non-oil sectors to sustain economic diversification and fiscal stability.
Oman's Ministry of Finance has approved an updated 2026 budget that prioritizes expanded public spending in non-oil sectors, reinforcing the Sultanate's structural shift away from hydrocarbon dependence. The revision allocates additional funds to infrastructure, logistics, renewable energy, and advanced manufacturing, reflecting the government's commitment to Oman Vision 2040 targets. Officials emphasize that the recalibrated budget preserves fiscal discipline while supporting private sector investment and job creation, particularly in free zones and industrial hubs. The budget update coincides with stronger-than-expected non-oil GDP growth in 2025 and follows Oman's recent announcement of an 11th Five-Year Development Plan (2026–2030), which aims to raise the investment-to-GDP ratio and sustain real growth of around 4% annually.
- Status
- active
- Location
- Muscat, Oman
- Date added
- 2026-03-25 23:19 UTC
- Last updated
- 2026-03-25 23:19 UTC
- Source
- Oman News Agency
- Connected threats
- Not provided