Friday, 15 Nov 2019 | 18 Rabi Al Awwal 1441
GDP grew 15.3% in Q3 of 2018, shows report

GDP grew 15.three% in Q3 of 2018, shows report

The findings had been revealed a assessment of Oman’s Economic Performance Report by the Supreme Council for Planning not too long ago in the course of its initial meeting this year.

The meeting was presided more than by H E Dr Ali bin Masoud bin Ali al Sunaidy, Minister of Commerce and Industry, deputy chairperson of the SCP.

It was attended by a quantity of excellencies and SCP members.

The development of GDP continued to be driven by the boost in total oil activities, such as crude oil and all-natural gas.

While the report stated a minor boost in inflation, it highlighted the rise in the non-oil exports in the course of the prior period by 25 per cent at the finish of September 2018. The meeting also reviewed the progress of the improvement projects inside the ninth 5-year improvement program (2016-2020), such as projects that offer fundamental solutions to citizens, projects that market financial development, boost government investment and offer job possibilities.

The meeting also discussed the executive status of other significant improvement projects and methods to address the challenges facing some of them.

It also discussed the proposal of the General Framework and the measures taken to prepare the sultanate’s initial 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.

The meeting also reviewed the status of the reports and methods ready by the SCP General Secretariat, such as the Third Human Development Report and the National Population Strategy (2020-2040), as nicely as a report on the adjustments in the power sector inside the framework of the sultanate’s financial diversification policies.

Information Source: Muscat Daily

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