MUSCAT: Oman’s economic system has proven a rising talent to evolve to world shifts at the again of balanced insurance policies and sluggish structural reforms, in line with Mahmoud bin Abdullah al Awaini, Secretary-Basic of the Ministry of Finance and a board member of the Global Monetary Centre of Oman (IFC Oman).
Al Awaini cited IMF estimates pointing to expansion of round 3.7 according to cent in 2026 regardless of regional tensions, and famous that Usual & Deficient’s had affirmed Oman’s investment-grade score of “BBB-” with a strong outlook.
Addressing the fifteenth Al Roya Financial Discussion board on Wednesday, the reputable famous that non-oil sectors now give a contribution round 73 according to cent of GDP, whilst executive debt fell to about 36 according to cent of GDP in 2025, down from 68 according to cent a couple of years in the past. Oman ranked twenty fifth globally amongst 70 economies within the 2026 International Competitiveness document, together with fifteenth in executive potency and 18th in industry potency, he added.
HH Sayyid Mohammed bin Thuwaini al Stated presided over the outlet of the two-day discussion board, held beneath the name “The Omani Economy in an Era of Major Transformations”.
In his cope with, Al Awaini described the hot Royal Order forming the board of IFC Oman — chaired by means of HH Sayyid Theyazin bin Haitham al Stated, Deputy Top Minister for Financial Affairs — as a brand new strategic milestone for the monetary sector, positioning the centre as a hub linking the markets of the Gulf, Asia and Africa.
Al Taie drew a difference between fiscal and financial instructions, mentioning Oman Air as a case the place austerity measures closed routes and minimize flights with out weighing the knock-on affect on commute and tourism. He referred to as for a extra necessary function for the Oman Chamber of Trade and Trade, and welcomed the newly introduced Financial Coordination Council as a hyperlink between executive coverage and private-sector wishes.
Handing over the strategic spouse’s cope with, Badr bin Awadh al Shanfari, Leader Working Officer of Ominvest, mentioned geopolitical disruption was once strengthening Oman’s place somewhat than weakening it. All through the hot escalation and the disruption to navigation within the Strait of Hormuz, he famous, the ports of Duqm, Sohar and Salalah treated masses of extra vessels successfully.
Al Shanfari mentioned overall shipment at Oman’s ports reached 45 million tonnes in 2025, up 7 according to cent, with Duqm rising 143 according to cent. Salalah introduced a $300-million growth, lifting capability to six.5 million gadgets, whilst the Inexperienced Hall with the UAE noticed items worth leap from round RO 100 million to greater than RO 830 million in April. He additionally pointed to the $3 billion Hafeet Rail mission linking Suhar to the UAE community and the “Al Rawdah” joint financial zone, with non-oil business between the 2 nations hitting a document RO 6.2 billion in 2025, up 11.3 according to cent.
The primary day’s keynote, by means of Dr Siham bint Ahmed al Harthy of the OCCI board, titled “From Resources to Value”, known 4 transformations reshaping the worldwide economic system: supply-chain restructuring, the AI and era revolution, the shift in power markets, and festival for world funding. Benefits on my own don’t seem to be sufficient, she wired; they will have to be became programs of manufacturing and price.
