News
IMF forecasts 3.7 percent growth in Oman’s real GDP for 2018

A recent report published by Thomson Reuters News Agency has said that as per the forecast growth rate, the budget deficit and the status of the balance of payments, the Omani economy is expected to perform well in 2018.
The agency said that its forecast is supported by data published by the International Monetary Fund (IMF) in April, after reviewing Oman’s financial and monetary condition. It said that any improvement in the economy in an environment characterised by a drop in oil price drop was not something that was easy and it may serve as evidence of the government’s ability.
The agency said that the IMF forecasts a 3.7 percent growth in Oman’s real GDP for 2018. The IMF estimated that Oman’s deficit as percentage of the GDP will decrease from 18.6 percent in 2016 to 14.3 percent next year, which it claimed to be a milestone achievement.
The report said that Omani officials endeavor to enhance export opportunities gradually, particularly the consumable materials produced at the Sohar Industrial Zone. It pointed out that the Sultanate has a number of industrial complexes, free economic zones and world-class ports that altogether provide a solid platform for enhancing export revenues. The agency also said that opening a new terminal at Muscat International Airport in the first half of 2018 would be a vital move for Oman Air.
-
News2 months ago
Aligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
OER Magazines1 month ago
OER, April 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, April 25
-
Renewables3 weeks ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Banking & Finance2 months ago
Bank Nizwa Signs MoU with Ministry of Endowments and Religious Affairs to Enhance Endowment Management & Islamic Finance Frameworks
-
News2 months ago
Oman Signs Historic Agreement to Establish World’s First Liquid Hydrogen Corridor to Europe
-
Renewables1 month ago
Sembcorp’s 588MW Solar Power Plant In Oman Begins Commercial Operation
-
Banking & Finance1 month ago
How Bank Muscat is Pioneering Digital Solutions to Empower Customers
You must be logged in to post a comment Login