Ahmed bin Abdul-Nabi Macki, Oman's Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Council has said the volume of the state general budget's general expenditure for 2006 is estimated at RO. 4.237 billion (US$11.2 billion) and revenues of the same year are estimated at RO. 3.587 billion (US$9.5 billion).
Macki added in a statement to Oman New Agency (ONA) that total current expenses which include defence, national security and civil ministries’ expenses, loan interests and the oil and gas production expenses are estimated at RO. 2.916 billion (US$7.7 billion). He noted contributions and support of the private sector is estimated at RO. 228 million (US$604 million).
Macki added the 7th five year plan aims at boosting economic diversification through developing tourism, fisheries and industry sectors, encouraging exports and increasing productivity of various sectors, notably oil and gas sectors, promoting financial institutions, re-directing revenues of privatization to finance productive projects, developing small and medium enterprises and enhancing water resources.
He said the target of the plan is to achieve a growth of 7.5% of non-oil activities and 11.6% of non-oil Omani commodity exports during years of the plan.
The Minister pointed out that general expenditure on the 7th five year plan (2006-2010) is estimated at RO. 20.896 billion (US$55.3 billion).