Muscat:The Ministry of Economy in Oman engaged in a meeting with a delegation from the International Monetary Fund (IMF) to assess key developments in Oman's economic performance and future growth prospects. This meeting is part of the periodic consultations, specifically the 2026 Article IV Consultations, carried out by the IMF mission from October 25 to November 8, 2026.
According to Oman News Agency, the discussions included an analysis of macroeconomic developments such as GDP growth, the performance of both petroleum and non-petroleum sectors, inflation rates, and employment trends. The meeting also explored economic projections for the upcoming period.
The two parties examined the effects of geopolitical developments and regional conflicts on the Omani economy, particularly their impacts on oil and gas markets, foreign trade, supply chains, transport, freight, and insurance costs. The meeting also covered the industrial sector and logistical and investment activities.
The Ministry highlighted the main economic performance indicators for the first half of 2026, noting a GDP growth of 3.8 percent at constant prices. This growth was driven by a 9.7 percent increase in petroleum activities and a 1.8 percent rise in non-petroleum activities.
Further discussions addressed the economic opportunities and challenges presented by regional dynamics. Emphasis was placed on enhancing national economic resilience, boosting the competitiveness of productive and service sectors, and improving the transport and logistics infrastructure to better adapt to external changes.
The consultations also focused on updates to the 11th Five-Year Plan (2026-2030) and its connection to the objectives of Oman Vision 2040. Efforts to increase the contribution of non-petroleum sectors, attract investments, and enhance in-country value (ICV) for the national economy were also discussed.
These discussions are part of the ongoing cooperation between Oman and the IMF, aimed at exchanging views on economic developments, policies, and reforms to support economic stability and sustainable growth.
