Business | Economy

Oman avoids current crisis

Sultan Qaboos Bin Saeed has told the annual session of the Council of Oman that the country has averted any adverse impact of the recent global economic recession, and that all development projects in the Sultanate will be carried out as planned.

  • By Sunil K. Vaidya, Bureau Chief
  • Published: 23:42 November 12, 2008
  • Gulf News

Muscat: Sultan Qaboos Bin Saeed has told the annual session of the Council of Oman that the country has averted any adverse impact of the recent global economic recession, and that all development projects in the Sultanate will be carried out as planned.

"We have followed with concern the economic situation currently being witnessed by the world and the turmoil prevailing in the international arena due to these circumstances," he told those at the meeting.

"We would like to point out that the policies adopted by our government over recent years have contributed - praise be to God - to averting the effects of this situation affecting our economy."

The annual Council of State meeting was attended by elected members of the Majlis As'shura, members of the Majlis Addawala, ministers, advisers, the Inspector General of Police and Customs, the Chief of the Internal Security Service, the Chief of Staff of the Sultan's Armed Forces (SAF), the commanders of the SAF wings and other dignitaries.

"In this regard," the Omani leader added, "we confirm the continuation of the development and building policies in accordance with the endorsed plans."

"We also affirm the need to diversify sources of income and the need to exert more efforts in this respect."

Sultan Qaboos also touched upon energy and food situations. "It is also necessary to look into ways of benefiting from alternative energy resources and to seek ways of achieving food security as much as possible," he stressed.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Economy

  1. Call to avoid currency control

  2. US trade curbs face rising global anger

  3. UAE keen to boost UK trade ties

  4. China faces rising heat on fixed exchange rate

All articles in Economy

More from Business

Gulf News
Popular in Business
Way to go this DSF
XPRESS

Way to go this DSF

A fun-filled route to guide you to all the happening dos in town

Business Editor's choice