4 days ago
Oman's economy to grow 2.2% in 2025: Ministry
By OUR CORRESPONDENT
Muscat – Oman's real GDP is expected to grow by 2.2% in 2025, up from 1.7% in 2024, according to the Ministry of Economy's latest Economic Forecasts 2025 report. The projection marks the final year of the sultanate's tenth five-year development plan (2021-25).
The ministry's Economic Modeling and Forecasting Team estimates GDP at constant prices will rise from RO38.3bn in 2024 to RO39.2bn by end-2025, supported by gains in both oil and non-oil activities.
Oil activities are forecast to rebound, growing 1.3% in 2025 after a 3% decline in 2024. The contribution of the oil sector to GDP is projected to increase slightly, from RO11.9bn to about RO12bn. Non-oil sectors, meanwhile, are expected to grow at a slower pace of 2.7%, down from 3.9% last year. Their total value added is forecast to rise to OMR28.6bn, compared to OMR27.9bn in 2024.
The ministry also expects inflation to remain contained. The consumer price index is forecast to rise by 1.3% in 2025, compared to 0.6% in the previous year. The increase remains within the target range of the five-year plan, supported by continued government subsidies on essential goods and services.
