GDP in Oman

Oman GDP | Economic News & Forecasts

Oman - GDP

Oman continued to wrestle with a yawning budget deficit in the first months of 2017, and comprehensive reforms to the corporate tax code were enacted earlier this year, which increased tax rates, eliminated most exemptions and modernized the system for filing tax returns in a bid to boost revenues. In order to finance the fiscal shortfall, the government made a rare venture into international bond markets in March, tapping investors to the tune of USD 5 billion and covering most foreign borrowing needs for the year in one fell swoop. The sale highlighted investors’ confidence in the fiscal solvency of a country whose economy likely recorded the worst performance in several years in 2016 due to a poor showing from the hydrocarbon sector. In a bid to prop up oil prices, Oman has recently expressed its willingness to extend production cuts beyond June.

Oman - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)-1.1  7.1  4.4  2.5  5.7  

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Oman GDP Chart

Oman GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Center for Statistics and Information and FocusEconomics calculations.

Oman Facts

Exchange Rate0.390.0 %May 24
Stock Market0.10.0 %May 24

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