LEADING THE WAY
Since His Majesty’s accession to the throne in 1970, one of the most striking features of His Majesty’s leadership has been the strong relationship between the leader and his people. In all stages of the country’s long-term development strategy, top priority has been accorded to the Omani citizen, regarded as the nation’s most precious resource in the drive towards achieving sustainable development. While presiding over the Council of Ministers meeting in February 2018, His Majesty Sultan Qaboos bin Said expressed appreciation for the continuous efforts exerted by the government, noting that these efforts helped achieve comprehensive development march. His Majesty’s foresight, perceptive vision and his astute policies have placed Oman as the most peaceful country in the Middle East and North Africa region and among the most stable and forward looking states on the global map. His Majesty the Sultan’s dedication and strength coupled with loyalty, love and sincere efforts of his subjects has borne fruit over the past 48 years.
The National Economic Diversification Programme ‘Tanfeedh’ aims to achieve the Sultanate’s vision towards economic diversification. The Implementation and Follow Up Unit published its annual report for 2017 highlighting the progress made in implementing projects in various sectors.
On the other hand, the commercial operations of the new Muscat International Airport commenced on March 20. The airport, which was formally inaugurated in November 2018 to mark the 48th National Day, is one of the major achievements of the modern Renaissance. The airport will give momentum to the tourism sector and will enhance the growth of the national economy in general and the logistics sector in particular.
The International Monetary Fund (IMF) has forecast that the Sultanate will register the highest growth rates in GDP among the GCC states in 2019. In its report titled ‘Economic Outlook for Middle East’, the IMF forecast that the Sultanate will post the highest growth rate in GDP with 4.2 per cent followed by Kuwait 3.8 per cent, U. A.E 3 per cent, Bahrain 2.3 per cent and Saudi Arabia 1.7 per cent. The report forecast that the oil price hike will improve the current accounts at the GCC States in 2018 and 2019 pointing out that each GCC State will likely use different financial tools to enhance its financial resources.
Oman 2018-19 takes an in-depth look at key sectors that have contributed to the Sultanate’s development. The book will surely serve as a one-stop source for people seeking information on Oman’s remarkable journey over the past 48 years.
On the 48th National Day, we would like to convey our heartfelt gratitude to His Majesty for his visionary guidance and nation building efforts.