6 days ago
Oman: $5.4bln disbursed in subsidies last year
MUSCAT - Oman allocated more than RO 2.1 billion in 2024 to fund targeted support across critical sectors and public welfare programmes, as part of its broader fiscal strategy to promote economic resilience and social stability.
According to official data released by the Ministry of Finance, the largest share—RO 565 million—was directed to the electricity sector to maintain affordability and ensure continued access to essential services. The government also committed RO 501 million to bolster the national social protection system, in line with the objectives of the Social Protection Law and Oman Vision 2040.
In a move to strengthen fiscal health, RO 400 million was allocated for debt servicing. The petroleum sector received RO 232 million in fuel subsidies, helping cushion consumers from international price fluctuations.
Key utilities and infrastructure were also prioritised. The water and sanitation sector was allocated RO 203 million, while the waste management sector received RO 71 million. The transport sector was granted RO 84 million to support mobility and logistics development.
To ease the cost of living, the government allocated RO 24 million for food subsidies and RO 41 million to support interest payments on housing loans for eligible citizens. An additional RO 47 million was distributed to support other essential public services and initiatives.
These allocations demonstrate Oman's commitment to maintaining essential public services while supporting vulnerable groups and advancing infrastructure investment. The 2024 spending priorities align closely with the nation's long-term development goals under Oman Vision 2040, which seeks to achieve balanced growth, fiscal sustainability, and improved quality of life.
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