Oman Introduces Economic Support Measures to Cushion Impact of Geopolitical Developments
Muscat, The Gulf Observer: The Government Communication Center has announced that the Sultanate of Oman has introduced a package of facilitative economic measures aimed at mitigating the impact of current geopolitical developments on businesses and key sectors of the national economy.
Issued in line with Royal directives, the initiatives form part of an integrated government strategy to strengthen domestic economic stability, ease pressures arising from global developments, and safeguard vital supply chains, particularly in relation to food security.
Among the key measures announced is the stabilization of electricity tariffs for establishments linked to food security, with rates capped at 12 baisas per kilowatt-hour regardless of consumption levels. This arrangement will remain in effect until December 2026.
The government has also approved financial support for maritime transport of essential food commodities imported from Indian ports for a period of six months, with the aim of ensuring the uninterrupted flow of essential goods and reinforcing national food supply networks.
To support the construction and tourism sectors, authorities have confirmed that customs duties on rebar steel imports will remain fixed at 5 percent until the end of the year. In addition, the collection of the 4 percent tourism levy from affected hospitality establishments will be deferred for three months.
Furthermore, relevant authorities are considering the feasibility of postponing loan installments for directly affected small and medium-sized enterprises (SMEs), in order to ease financial pressures and support business continuity.
Officials stated that these measures reflect the government’s commitment to protecting economic stability, supporting key industries, and ensuring resilience in the face of evolving global challenges.
