MUSCAT: According to the latest report, Oman recorded an economic freedom score of 68.5, an increase of 3.1 points from the previous year — the second-largest improvement among countries assessed in the 2026 index. The Sultanate now ranks third among 14 countries in the Middle East and North Africa (MENA) region, with its score exceeding both regional and global averages.

The index classifies Oman’s economy as “moderately free,” highlighting the country’s ongoing transition toward a more diversified economic model.

Analysts noted that Oman’s expanding non-hydrocarbon sectors — particularly manufacturing, construction and services — have driven economic growth and strengthened resilience as the country reduces its reliance on oil revenues.

The report also pointed to progress under Oman Vision 2040, which aims to broaden the economic base and enhance long-term sustainability.

Improved fiscal management and consolidation efforts have contributed to a decline in public debt to below 40 per cent of gross domestic product, while legal reforms aimed at enhancing transparency and accountability have supported stronger anti-corruption measures, the report said.