Muscat: The Ministry of Economy today welcomed a team of experts from the International Monetary Fund (IMF) to the Sultanate of Oman. The visit is part of the IMF's ongoing initiative to monitor economic and financial developments within member countries.

According to Oman News Agency, discussions between the Ministry and the IMF focused on the current state and future prospects of Oman's economy, with particular emphasis on the growth of non-oil sectors. The talks included an analysis of the potential economic drivers for the years 2026 and 2027.

Both parties explored the impacts of regional geopolitical changes on Oman's economy, assessing repercussions on trade, investment, and supply chains. They also deliberated on the challenges and opportunities that regional economic integration presents, particularly how Oman can leverage its strategic position as a key logistics and trade hub.

The Ministry presented the IMF team with highlights of the 11th Five-Year Plan (2026-2030), detailing initiatives aimed at accelerating economic diversification, enhancing fiscal sustainability, and supporting comprehensive growth. Priority sectors such as industry, tourism, and the digital economy were discussed, along with the Ministry's efforts to promote these areas.

Furthermore, the IMF delegation was briefed on initiatives to integrate small and medium enterprises (SMEs) into value-added chains within special economic zones, free zones, and industrial cities. The goal is to increase local content, expand investment opportunities, and encourage entrepreneurship.

The Ministry emphasized the strong performance of Oman's non-oil sectors and the success of ongoing economic reforms and development programs. These efforts align with the objectives of Oman Vision 2040, highlighting the national economy's competitiveness and resilience in the face of regional and global economic changes.

The visit underscores the commitment of both Oman and the IMF to maintain regular consultations, exchange views on economic policies and reforms, and work towards economic stability and sustainable growth.