Overview
The Ministry of Economy (MOE) is Oman’s central economic planning body — responsible for macroeconomic policy coordination, medium-term development planning (five-year plans), and the analytical underpinning of Vision 2040.
The MOE coordinates with the Supreme Council for Planning (the apex policy body) and works alongside the Ministry of Finance on macroeconomic management, with the Ministry of Commerce on investment and trade policy, and with sectoral ministries on development planning.
Planning Function
Oman has traditionally organised economic development through multi-year development plans:
- 9th Five-Year Plan (2016-2020): Bridged between Vision 2020 and Vision 2040, focusing on fiscal adjustment and initial diversification
- 10th Five-Year Plan (2021-2025): The first plan under Vision 2040’s framework — aligning investment allocations and sector priorities with Vision 2040 targets
- 11th Five-Year Plan (2026-2030): Under preparation — expected to reflect accelerated progress requirements given Vision 2040 mid-point proximity
The five-year plans translate Vision 2040’s long-term targets into specific capital budgets, sectoral investment plans, and policy reform commitments.
Economic Intelligence
The MOE produces economic analyses, sector studies, and international comparison reports that inform government policy. It also manages Oman’s engagement with international economic organisations — IMF Article IV consultations, World Bank Country Partnership Frameworks, and GCC economic coordination.
Diversification Coordination
The Ministry is the lead coordinator for non-oil GDP diversification tracking — working with NCSI on national accounts, with sectoral ministries on sector-level performance, and with the IFU on Vision 2040 indicator reporting. The critical non-oil GDP share target (from 61% to 91.6% by 2040) is the Ministry of Economy’s signature performance metric.