Omani economy to contract by 4%: Minister

Muscat: His Excellency Dr. Said Al Saqri, Minister of Economy has said that the Sultanate’s economy will contract 4 per cent this year.  

Speaking to Oman TV, Al Saqri said: “Maintaining the stability of the national economy is one of the most prominent challenges, and there is an expectation of a 4% contraction in the national economy,” he said.  

He also informed that the government had kept aside OMR 8 billion incentives to face the repercussions of the pandemic.  

“The midterm fiscal team will work to increase economic activity and increase job opportunities,” the Minister added.