Muscat: The economic recovery was reflected in the increase in the trade balance surplus, as it grew by a remarkable rate of 185.8 percent to reach about OMR 4.71 billion during the first half of 2022, said His Excellency Dr Nasser Al Mawali, Undersecretary of Economy.
He explained that the qualitative improvement in the performance of the Omani economy came as a result of the success of the economic and financial policies taken, while the stimulus packages directed at the recovery measures contributed to its cohesion and the restoration of high positive growth.
His Excellency stressed that maintaining safe and reasonable levels of inflation is a fundamental gain of economic policy, as it enables the Sultanate of Oman to remedy the crisis of supply chains for foodstuffs.
His Excellency added that the performance of the public finances indicates a decrease in the total public debt of the Sultanate of Oman by 11.5 percent to reach about OMR 18.4 billion at the end of August 2022.
His Excellency indicates that the current economic conditions provide a broader expansion space to move in flexible options for economic and development planning, and it is expected that the gross domestic product will continue on its upward path during the second half of 2022.
His Excellency Dr Nasser Al Maawali confirms that the Ministry of Economy continuously monitors various global economic changes and their repercussions on the national economy with the aim of making thoughtful economic choices capable of dealing with all global changes.
He said that the Ministry of Economy continuously monitors various global economic changes and their repercussions on the national economy with the aim of making well-thought-out economic choices capable of dealing with all global changes.