MUSCAT: The money sent home by expatriate workers from the Sultanate have dropped to OMR 3.373 billion, the lowest in seven years, according to the 2020 Annual Report published by the Central Bank of Oman.
According to the apex bank, the pandemic had significant implications on employment conditions in the country that witnessed the drop of expatriate population. “The government also implemented measures to promote further Omanisation of job opportunities in the Sultanate during the year as several Omani citizens were also affected by the contraction in economic activities,” the report stated.
CBO said the expat remittance dropped by four percent. In 2020, remittances was OMR 3.512 billion in 2019. The downward trend has been continuing since 2015, when it registered OMR 4.226 billion.
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“The year 2020 was marked by an unprecedented global health crisis caused by the covid-19 pandemic forcing people to stay home. While the vaccine has raised hope of returning to normalcy, the virus mutation continues to be the cause of concern. Oman managed the pandemic effectively as reflected by the high recovery and low fatality rates. With continued efforts and firm determination, I firmly believe that the Sultanate will emerge even stronger out of the pandemic,” said Tahir Salim Abdullah Al Amri, Executive President of CBO.
