Oman State Budget webinar

2021 has been a mixed year, marked by promising developments including significant vaccination progress, as well as worrying signs such as the resurgence of Covid-19 through different variants. Despite the continuing challenges, the Sultanate of Oman, under the leadership of His Majesty Haitham bin Tariq, has witnessed a revival of its economy, evident by a decline in fiscal deficit helped by rising oil prices and improvement in credit ratings. The outcome of the bold measures undertaken by His Majesty in 2021 as part of the 10th Five Year plan, representing the first leg of the executive plan of Oman Vision 2040, is commendable.

Oman’s post pandemic priorities are focused on developing the private sector, accelerating diversification and reducing the national deficit. There is much to look out for in the Oman State Budget 2022 that is emblematic of the government’s progressive vision.

On Tuesday, 11 January 2022, KPMG explored the highlights of State Budget 2022 and offered a deep dive into how the developments may impact Oman’s economy.