Oman, considering the increasing developments in the global economy, has heightened the importance of monitoring economic indicators and assessing their impact on the national economy. Dr. Nasser bin Rashid Al-Maawali, Deputy Minister of Economy of Oman, announced that the average inflation rate in the country from January to August 2026 was about 2.9 percent, while this figure is estimated at approximately 4.7 percent globally.
The Link Between Global Inflation and International Markets
Dr. Al-Maawali, in a statement, highlighted the importance of the link between global inflation and changes in international markets, adding that this connection has become more complex due to increased economic interactions and supply chains at the global level. According to him, these factors spread the impacts of global developments to countries and various sectors to varying degrees.
He also noted that geopolitical developments and changes affecting supply chains in the region exacerbate transportation costs and the provision of goods and services globally. As Oman's economy is closely tied to international markets, these developments will have an impact on it.
Monitoring and Policy-Making for Market Stability
The Deputy Minister of Economy of Oman emphasized that the government continuously monitors price movements, markets, and supply chains and is striving to adopt appropriate policies and measures to maintain market stability, ensure access to goods, and reduce the impact of external fluctuations on the national economy. These actions are aimed at supporting social stability and sustainable growth.
Dr. Al-Maawali stated that the Ministry of Economy of Oman, in collaboration with relevant institutions and its partners, is strengthening Oman's economic and institutional capabilities and increasing the resilience of the national economy against external developments and mitigating their effects, while also seeking to maintain sustainable growth.
He emphasized that combating inflation is part of an integrated economic and social approach that aligns with the government's fiscal and monetary policies. This approach considers the balance between price stability and sustainable growth and helps strengthen private sector activities and the resilience of supply chains to diversify their resources and support sustainable economic and social development.
Read more: Commodity trade in the Gulf is affected by military tensions · Meetings of New York Mayor, Zahran Mamdani, at the United Nations
