The Shura Council’s Economic and Financial Committee held an expanded joint meeting on Tuesday morning with H.E. Abdullah Salim Al Harthi, Undersecretary of the Ministry of Finance; H.E. Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy; and a delegation of specialists from both ministries. The meeting was also attended by H.E. Mulham Bashir Al Jarf, Deputy President for Investment at the Oman Investment Authority, and representatives of Energy Development Oman. The meeting formed part of the Committee’s efforts to examine the underlying assumptions and key components of the 2027 State Budget Proposal, review Oman’s economic performance during the current year, and assess economic growth projections across various sectors for 2027.

At the outset, H.E. Ahmed Said Al Sharqi, Chair of the Council’s Economic and Financial Committee, welcomed the two undersecretaries and their accompanying officials. He emphasized that the meeting reflected the integrated efforts of state institutions in preparing fiscal budgets and economic plans, helping ensure the development of accurate and effective financial and development plans capable of achieving the objectives of Oman Vision 2040 and the priorities of the Eleventh Five-Year Development Plan (2026–2030).
The Undersecretary of the Ministry of Economy opened the discussions by presenting a range of economic indicators recorded in recent years. He explained that the government’s economic policies had strengthened fiscal stability and improved resource management efficiency, contributing to an improvement in Oman’s credit rating and a substantial reduction in public debt compared with previous years. He noted that structural reforms and fiscal balance programmes had bolstered international confidence in the Omani economy, created greater opportunities to attract foreign investment, and promoted economic decentralization across Oman’s governorates.
He further stressed that social considerations remained a priority in preparing the State Budget, highlighting growth indicators in education, healthcare, and the social protection system.



Discussions by Committee members focused on improving government spending efficiency, ensuring fiscal sustainability, diversifying revenue sources, and reducing dependence on oil revenues, in line with the objectives of Oman Vision 2040. Members also emphasized the importance of incorporating public aspirations and concerns into development policies and 
plans. They called for the State Budget to include practical and sustainable solutions to unemployment among jobseekers, measures to improve citizens’ living standards, and initiatives to address rising prices of goods and services through increased subsidies for selected sectors.
The meeting was chaired by H.E. Ahmed Said Al Sharqi, Chair of the Economic and Financial Committee, as part of the Committee’s seventh meeting between the Third and Fourth Ordinary Sessions of the Tenth Term (2023–2027). It was attended by H.E. Sheikh Ahmed Mohammed Al Nadabi, Secretary-General of the Shura Council, and members of the Committee.
The Shura Council’s Economic and Financial Committee is conducting an in-depth review of the State Budget Proposal, examining revenue and public expenditure estimates, public debt management, the assumed price per barrel of oil, and inflation rates. The Committee will subsequently submit its report and observations for discussion at the Council’s forthcoming sittings.
This process is undertaken in accordance with Article 52 of the Law of the Council of Oman, which stipulates:“Draft development plans and the State Budget shall be referred by the Council of Ministers to the State Council and the Shura Council for discussion and recommendations within a maximum of one month from the date of referral. The Chair of each Council shall return the draft development plans and the State Budget to the Council of Ministers, accompanied by the Council’s recommendations. The Council of Ministers shall inform both Councils of any recommendations not adopted, stating the reasons for doing so. The sittings of the State Council and the Shura Council devoted to discussing draft development plans and the State Budget shall be held in camera.”