Oman's SMEs failed to benefit from stimulus packages
Published 22 Sep,2021 via Muscat Daily - Muscat: A new study on the impact of COVID-19 on Oman’s economy has found that the government must devise more effective mechanisms to provide fiscal stimulus packages to companies affected by the pandemic. Many small and medium-sized enterprises revealed that they did not benefit from these schemes.
The study also highlighted the need for more coordination between the Ministry of Labour and the Ministry of Higher Education, Research and Innovation to address the mismatch between required skills and level of education imparted. It found that many job vacancies were not filled following the departure of expatriate workers due to lack of technical skills among nationals.
Titled ‘The Impact of COVID-19 on the Omani Economy’, the study was led by Dr Ashraf Mishrif, Oman Chamber of Commerce and Industry Chair in Economic Studies at Sultan Qaboos University, and funded by the COVID-19 Research Programme of the Ministry of Higher Education, Research and Innovation.
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