Oman celebrates 54th National Day with significant achievements, future goals
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The Sultanate of Oman is set to celebrate its 54th National Day on Monday, marking notable accomplishments in various sectors under the leadership of His Majesty Sultan Haitham bin Tarik.
Over the past five years, His Majesty’s directives have guided the nation through a period of comprehensive development, with the goal of advancing Oman’s progress and prosperity.
The nation’s achievements are aligned with Oman Vision 2040, a blueprint for long-term economic and social growth. Oman‘s economic performance has seen significant improvements, including a rise in public revenue.
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As of August 2024, the state’s public revenue reached 8.106 billion Omani Rial (RO), a growth of RO 183 million compared to the same period in 2023. Additionally, the Sultanate achieved a surplus in its general budget of approximately RO 447 million, with a notable reduction in public debt from RO 20.8 billion in 2021 to RO 14.4 billion by mid-2024.
Oman also launched a new social protection system in 2024, which unified and restructured pension funds, further advancing its social security framework. The ratio of public debt to GDP was reduced from 62.3 percent in 2021 to 35 percent by mid-2024, reflecting fiscal discipline and economic stability.
On the international stage, Oman reaffirmed its commitment to peace and diplomacy during its speech at the 79th session of the United Nations General Assembly.
The Sultanate called for an immediate ceasefire in the Gaza Strip, Lebanon, and the Red Sea region, emphasizing the need to resolve the Israeli-Palestinian conflict through a two-state solution and the establishment of an independent Palestinian state with East Jerusalem as its capital.
