Muscat: The Ministry of Economy, through the economic sector of the National Risk Register, organized today the "Economic Readiness Forum to Deal with Inflationary Pressures".
According to Oman News Agency, the event was held under the auspices of Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy and Head of the Economic Sector at the National Risk Register. The purpose of organizing the forum is to foster a broader understanding of the phenomenon of inflation, which has become more complex than merely a result of increased demand or high liquidity. World economies today have become more interconnected, and supply chains have become more sensitive to inflationary shocks. As a result, inflation is now affected by variables in energy and food markets, geopolitical and climate tensions, shifts in global trade, freight rates, and raw material prices, impacting markets, countries, and sectors rapidly.
Dr. Nasser Rashid Al Maawali explained that inflation is an economic phenomenon whose sources can be understood, its indicators monitored, and its impacts mitigated. He highlighted that the Ministry of Economy operates within a broader framework to build a more resilient economy capable of coping with future changes. He added that "Oman Vision 2040" seeks to build human capacity as the cornerstone and ultimate goal of development.
Al Maawali stated that the Ministry of Economy collaborates with relevant entities to address inflationary pressures and enhance integration among fiscal, monetary, production, and trade policies. Efforts are also focused on enhancing supply chain efficiency, diversifying import sources, supporting local production, and improving the work, business, and investment environment.
The latest available data shows that average inflation in the Sultanate of Oman since the beginning of the year to date reached approximately 2.9 percent, with the current inflation level standing at around 3.4 percent as of August 2026.
The forum featured a discussion exercise for participants on inflationary pressures. This exercise aimed to achieve objectives such as evaluating the readiness of relevant entities to manage potential inflationary pressures, improving joint response mechanisms, identifying key opportunities and challenges, and proposing appropriate measures to address these issues.
The forum was attended by senior officials, heads of sectors, members of the economic sector at the National Risk Register, and a group of specialists and experts from relevant government entities.
