Fiscal Balance in Oman
Oman - Fiscal BalanceThe economy likely rebounded in 2018 after a contraction in 2017, primarily on the back of increased hydrocarbon output and prices. Preliminary estimates show the fiscal deficit fell in absolute terms to a four-year low on the back of higher government revenue, despite greater expenditure. Moreover, international reserves climbed, while exports rose by over a third in January–September. Turning to 2019, Moody’s said in February that the fiscal deficit is unlikely to improve much more due to lacking policy action from the government. Meanwhile, a large sebacic acid factory began production in the city of Duqm in the same month, highlighting government economic diversification efforts.
Oman - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-0.3||-1.2||-19.0||-26.0||-11.7|
5 years of economic forecasts for more than 30 economic indicators.
Oman Fiscal Balance Chart
Source: National Center for Statistics and Information and FocusEconomics calculations.
|Exchange Rate||0.39||0.06 %||Mar 20|
|Stock Market||0.1||0.0 %||Mar 20|
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