Fiscal Balance in Oman
Oman - Fiscal Balance
The 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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -0.3 | -1.2 | -19.0 | -26.0 | -11.7 |
Oman Fiscal Balance Chart
Source: National Center for Statistics and Information and FocusEconomics calculations.
Oman Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 0.39 | 0.06 % | Mar 20 |
| Stock Market | 0.1 | 0.0 % | Mar 20 |
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