The Finance Ministry has revealed that a series of measures is being taken to overcome the challenges in importing oil due to the ongoing war in the Middle East.

In a statement, the ministry said oil is mainly imported from Oman and that steps will be taken to ensure the supply in collaboration with the State Trading Organization (STO).

The ministry said it was studying the impact of the events in the Middle East.

“In light of these studies, necessary changes will be brought to fiscal policies in order to maintain macro-economic stability in the country and ensure continuous delivery of public services,” the ministry said.

According to the ministry, the current risk is low because the foreign exchange reserves are above USD 1 billion.

The ministry said this would strengthen the efforts to overcome economic shocks, finance imports and implement economic measures.

The Finance Ministry is responsible for ensuring the supply of oil, while the Economic Ministry is responsible for ensuring the supply of food and basic commodities.

President Mohamed Muizzu has appointed a special committee of ministers to work together to take measures to lessen the consequences of the war.