MUSCAT: In continuation of the government policy of curbing inflation and keeping it at low levels, the State’s General Budget for the fiscal year 2025 included financial allocations for subsidy amounting to RO 1.580 billion.
According to His Excellency Sultan Salim Al Habsi, Minister of Finance, RO 577 million has been allocated to the Social Protection Scheme, RO 520 million allocated to subsidy for the electricity sector, and RO 194 million allocated to subsidy for the water and wastewater sector.
Additionally, RO 82 million allocated to subsidy for the transportation sector, RO 73 million allocated to support the interests of development and housing loans, and an amount of RO 59 million to support the waste sector, while the remaining subsidy allocations are distributed to support petroleum products, food commodities, among others.
Regarding inflation, the minister said that data from the National Centre for Statistics and Information (NCSI) indicate that the inflation rate in the Sultanate of Oman until November 2024 stood at about 0.6 percent, compared to about 1.1 percent for the same period in 2023. The continued low inflation rates are attributed to government policies to control prices through several measures, including support for petroleum products, electricity and water support, as well as support for the prices of basic commodities.
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