GDP in Oman
Oman - GDPA low-oil-price environment and harsh austerity undertaken in order to rein in a rampant fiscal deficit have led the economy to log its worse economic performance since 2011 when it was plagued by heightened political unrest. While the November OPEC accord on cutting crude production is boosting oil prices, the country will not completely benefit as it will reduce its total production by around 4.5% in compliance with the deal. In an attempt to reduce the impact of last year’s hike in fuel prices, the government is considering reinstating a fuel subsidy for low income citizens. This move could derail the government’s plan to lower the budget deficit for this year to around 10% of GDP.
Oman - GDP Data
|Economic Growth (GDP, annual variation in %)||-1.1||7.1||3.9||2.9||-|
5 years of economic forecasts for more than 30 economic indicators.
Oman GDP Chart
Source: National Center for Statistics and Information and FocusEconomics calculations.
|Exchange Rate||0.39||0.01 %||Mar 27|
|Stock Market||0.1||0.0 %||Mar 27|
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