Oman’s state budget for 2025 is receiving positive feedback from economic analysts and experts for balancing social support aspects and reducing public debt costs. Dr. Dhafir bin Awad Al Shanfari, Chairman of the Economic and Financial Committee in the State Council, highlighted the maintenance of social support for various sectors such as petroleum products, electricity, and water in the 2025 budget. He also mentioned the restructuring of lower-cost loans to reduce public debt costs annually. Dr. Al Shanfari expressed hope for increased investment spending with high local content and support for job opportunities in the private sector.
Dr. Mohammed bin Hamid Al Wardi, a member of the State Council, emphasized that the 2025 budget continues the Tenth Five-Year Plan and aims for a growth of 2.7% supported by government spending. He stated that the budget focuses on achieving fiscal and economic balance by reducing public debt, stimulating the economy, and enhancing social services. The budget for this year has the lowest cost for public debt service compared to previous budgets at OMR915 million. Dr. Khalid bin Said Al Amri, Chairman of the Oman Economic Society, noted that the 2025 budget relies heavily on oil and gas revenues, with social spending accounting for 42% of total expenditure. Investment in education, health sectors, and economic diversification efforts are crucial aspects of the budget.
Dr. Al Amri highlighted that the public debt-to-GDP ratio is expected to remain within an acceptable range, with the deficit projected to be financed through internal and external borrowing. The budget also allocates significant amounts for defence, security, and social services. Dr. Yusuf bin Ali Al Balushi, an economic expert, praised the 2025 budget for focusing on social aspects, infrastructure development, and investments in various economic areas. He noted the reduction in public debt service costs, improvement in Oman’s credit rating, and the need for a focus on local investments and the private sector’s role.
In conclusion, the 2025 state budget of Oman is receiving recognition for its balanced approach towards maintaining social support and reducing public debt costs. The budget focuses on stimulating the economy, enhancing social services, and promoting investment in various sectors. Experts have lauded the efforts to achieve fiscal and economic balance, reduce public debt costs, and support job opportunities in the private sector. The budget heavily relies on oil and gas revenues, with a significant portion allocated towards social spending, defense, security, and infrastructure development. Overall, the 2025 budget reflects Oman’s commitment to economic diversification, financial sustainability, and promoting investments in key sectors.
