Monday 21 / September / 2026
Muscat: The Ministry of Economy, through the economic sector of the National Risk Register, organised on Monday the "Economic Readiness Forum to Deal with Inflationary Pressures".
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 organisation of the forum comes to foster a broader understanding of the phenomenon of inflation, which has become more complex than being 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. Accordingly, inflation today is affected by variables in energy and food markets, geopolitical and climate tensions, shifts in global trade, freight rates, and raw material prices, the effects of which transfer from one market to another, from one country to another, and from one sector to another in a short time.
Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy, explained that inflation is an economic phenomenon whose sources can be understood, its indicators monitored, and its impacts mitigated.
He noted that the Ministry of Economy operates in dealing with these variables within a broader framework by building a more resilient economy capable of coping with future changes, adding that "Oman Vision 2040" does not view development as mere numbers and growth rates, but rather seeks to build human capacity as the cornerstone and ultimate goal of development.
Al Maawali said that the Ministry of Economy works with relevant entities to address inflationary pressures and enhance integration among fiscal, monetary, production, and trade policies, as well as enhancing supply chain efficiency, diversifying import sources, supporting local production, and improving the work, business, and investment environment.
The latest available data indicates 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 (according to August 2026 data).
The forum featured a discussion exercise for participants on inflationary pressures. This exercise aimed to achieve several key objectives, including evaluating the level of readiness of relevant entities to manage potential inflationary pressures, improving the efficiency of joint response mechanisms by strengthening institutional coordination and information exchange among relevant bodies, identifying key opportunities, challenges, and potential gaps related to dealing with inflationary pressures, and proposing appropriate measures to address them.
The forum was attended by a number of 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.
