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FINANCIAL NEWS
Oman sets $78bn five-year economic plan
02 Jan 2011
(MENAFN) The national economy minister in Oman Ahmad Mekki said that the Sultanate allocated $77.92 billion in an economic plan that runs till 2015, where money would mostly go to oil industry, health and education, reported Arabian Business.
The minister added that the new budget hiked by 113% compared to that of the previous year. The minister added that the Sultanate is expected to produce 897,000 barrels per day (bpd) under the plan, even though Oman is not producing under OPEC.
The minister also said that the plan estimates an inflation rate of four percent as the rate was around 4.2 in the past couple of months.
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