Fiscal Balance in Oman
Oman - Fiscal Balance
The economy has had a mixed few recent months. Oil prices through to early June have averaged above the USD 58 per barrel level that the government projected in its budget for 2019, while oil production increased slightly in January–April. Fiscal pressures should have consequently eased somewhat, although both Moody’s and S&P Global Ratings are still considering downgrading the sovereign credit ratings of cash-strapped Oman. Meanwhile, the non-hydrocarbon economy is seemingly strengthening, with total revenue recorded in the hotel industry rising by over 10% in annual terms in March; new tax exemptions effective 1 June for investors in the tourism sector could hurt the public purse, however.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 % | Jun 13 |
| Stock Market | 0.1 | 0.0 % | Jun 12 |
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