Oman spent over RO67bn on 1,100 projects under 8th Plan

Date

7/17/2016 1:10:36 AM

(MENAFN- Muscat Daily) Muscat-

During the 8th Five-Year Plan (2011-2015), the sultanate implemented more than 1,100 projects, that ware awarded through the Tender Board, at a cost of over RO67bn. It also implemented a number of other projects that were awarded through the different governmental units.

Under the 8thPlan, the sultanate utilised oil revenues to complete major strategic projects in the port, airport, road and other sectors. Projects were also implementedto boost Oman's reliance on non-oil revenues.

Statistics compiled by ONA show that total revenues during the 8thPlan stood at about RO61.5bn. Total public expenditure stood at RO67.1bn.

Oil revenues contributed RO44.2bn, or 71.9 per cent, of total revenues. Gas revenues amounted to RO7.4bn. Moreover, RO1.9bn came from income tax, RO1.1bn from custom duties, RO90.6mn from capitals and RO6.7 from other revenues.

Under the 9thPlan (2016-2020), the sultanate will seek to increase revenues by focusing on five main sectors: Manufacturing, logistics, transport, tourism, fisheries and mining.

Current expenditure accounted for RO42.4bn, or 63.1 per cent, of total public expenditure under the 8th Plan. This compared with RO15.8bn for investment expenses, contributions to local and foreign organisations, and subsidies, as well as RO8.8bn for other programmes.

During the 8thPlan, a number of major projects, for which work was initiated during the 7thPlan, were completed, including the Batinah Southern Expressway at a cost of RO796mn.

Work was initiated on the first and second stages of the Sur-Bidbid road at a cost of RO432.5mn.A number of major contracts were also awarded for the Muscat and Salalah airport projects. The new Salalah airport began operations in June 2015.

Oman also implemented a number of programmes in education and youth development, including expansion of the scholarship programme.

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