The sessions of State Council  and Shura Council designated for debating drafts of the development plans and the General Budget of the State shall be held in secret.
The session began with a speech by H.E. Khalid Hilal Al-Maawali, Chairman of the Council, who welcomed H.E. the Minister of Finance, noting that the session would discuss the State Budget for the fiscal year 2025, during which the Council would learn about revenue size, expenditure estimates, economic growth rates, the state’s financial position, monetary policies, savings versus investment rates, and expected oil production and prices for the coming year.

H.E. added that the session would focus on the criteria and priorities of development projects, global economic developments, their impact on the national economy, and how to maintain and sustain the developmental achievements while achieving the economic and social goals set by the government.

Following this, H.E. Sultan Salim Al-Habsi, Minister of Finance, delivered the Ministry's statement on the State Budget Project for the fiscal year 2025. He highlighted that the fiscal policies adopted by the government since 2020, coupled with rising oil prices, directly contributed to the improvement of the state’s economic and financial indicators, most notably the reduction of public debt levels and the restoration of investment-grade credit. He also emphasized that the government continues to manage public finances as planned, focusing on enhancing non-oil revenue growth, improving public spending efficiency, and continuing to reduce public debt to ensure financial sustainability and economic growth.

In his statement, the Minister noted that despite the positive economic indicators, these improvements remain variable and unstable due to global political and economic factors. This requires the government to continue adjusting financial conditions to avoid any severe consequences, whether economic or social.

He clarified that the State Budget Project for 2025 was prepared following an approach that allows the government to maintain continued financial, economic, and social stability, in alignment with the financial framework of the Tenth Five-Year Development Plan and Oman Vision 2040.

H.E. also noted that the budget estimates for 2025 took into account providing insurance coverage and social protection for various segments of society, maintaining spending on essential services such as education, healthcare, and housing, and stimulating the national economy by supporting the growth of companies and projects that enhance economic diversification.

The discussions of the Council members with H.E. the Minister focused on the key aspects of the budget, especially regarding financial, economic, and social policies, the assumptions used in preparing the State Budget Project for 2025, and how it will address oil prices and global variables to ensure financial, economic, and social stability. Additional discussions also covered estimates of public revenue, public spending, public debt management, deficits, financing, inflation rates, as well as developmental and investment spending for 2025. Members also discussed the financial, economic, and monetary indicators for 2024 and potential economic and financial risks in 2025.



The discussions also highlighted the priorities for development projects, global economic developments, and their impact on Oman’s economic situation, as well as the necessary measures to preserve and sustain developmental achievements, contributing to the achievement of the government’s economic and social objectives.

The session also included briefings on several government-proposed draft laws, including the draft law on real estate regulation, the draft law on communications and information technology, and the draft law on combating human trafficking. Furthermore, the Council reviewed and approved the Economic and Financial Committee's report on the State Budget for 2025, incorporating suggested amendments during the session.

The session discussed and approved several proposed motions, including a motion concerning the identification of job opportunities in the security and safety sector, a motion on the necessary measures to prevent foreign workers from leaving without the sponsor’s approval, and a motion on preparing shelter centers in Oman, based on the views of the Committee on Services and Public Utilities.

This took during the second regular session of the Shura Council for the second Annual session (2024-2025) of the Tenth Term (2023-2027), chaired by H.E. Khalid Hilal Al-Maawali, with the attendance of H.E. Ahmed Mohammed Al-Nadabi, Secretary-General of the Council, and their Excellencies members of the Council