Oman

Recent Publications

GCC: Monetary Easing Speeds the Pace of Recovery

The GCC countries followed the Fed and cut their key policy rates, given their pegged exchange rates. Lower interest rates will encourage borrowing and stimulate non-oil growth, which has been weak in recent years. We expect non-oil growth to pick up from 2.1% in 2018 to 2.8% in 2019.

Economic Views: Oman - Fiscal Restraint is Needed

January 18, 2018

While narrowing, we expect the fiscal deficit to remain large at 9.3% of GDP in 2018. Pressure on credit ratings will increase as public debt surpasse

Oman: Facing Major Challenges

The Omani economy is one of the most vulnerable of the MENA countries to prolonged lower global oil prices. We expect real GDP growth to slow to less

Oman: Grappling with Twin Deficits

November 2, 2016

In spite of the oil price shock, economic activity has been robust until recently, but we expect nonoil growth to slow to about 1% in 2016.' With larg

Oman: Working to Promote Financial Inclusion

October 27, 2016

Government initiatives have been launched to promote financial inclusion, namely to support wage payments through the banking system and to require ba

IIF Dispatch: Update from Oman

September 28, 2016

On our recent visit to Oman, we found the pace of economic activity decelerating as the authorities grapple with large twin deficits. Growth had been

Oman: Fiscal Restraint Needed Going Forward

High oil prices and an increase in production pushed the budget surplus up to an estimated 4.2% of GDP in 2012. Expenditure has risen sharply over the

Oman: Using Oil and Gas to Diversify the Economy

An increase in oil and gas production and robust activity in the nonhydrocarbon sector pushed growth to an estimated 7.1% in 2012. The biggest challen

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