Fiscal Balance in Oman
Oman - Fiscal BalanceThe economy performed well in 2018, largely thanks to higher oil and natural gas production. From January to November, hydrocarbon output rose significantly compared to the same period a year earlier and translated into stronger public finances and exports. However, despite the improving economy, the government made little progress in improving its underlying finances and remains highly dependent on oil revenue. Although the fiscal deficit is expected to have decreased in 2018, Fitch Ratings downgraded the sovereign debt rating of Oman to BB+ from BBB- on 18 December, citing higher recent spending than expected and uncertainty linked to future oil revenues. Meanwhile, on 1 January the government unveiled its 2019 budget, which forecasts a small increase in spending that is just outpaced by revenue growth.
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||0.38||0.06 %||Jan 16|
|Stock Market||0.1||0.0 %||Jan 16|
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