Fiscal Balance in Oman
Oman - Fiscal BalanceEconomic activity likely gained considerable steam in sequential terms in H2, as the non-oil sector benefited from the easing of Covid-19-related restrictions, while a stimulus package introduced in late November should have also supported domestic demand. Meanwhile, crude oil production and natural gas output growth accelerated from H1’s average in July–November, pointing to a stronger hydrocarbon sector. Furthermore, progress on structural reforms and higher oil and gas revenues continued to support public coffers. Consequently, preliminary estimates suggest that the fiscal deficit narrowed by over 70% by the end of 2021 relative to 2020. Meanwhile, authorities recently released an outline of the general budget for 2022, which aims to maintain fiscal prudence, encourage private investment and increase non-oil revenues—largely sticking to initiatives under the medium-term fiscal plan.
Oman - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-17.6||-21.1||-13.9||-8.7||-9.1|
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 %||Dec 31|
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