Fiscal Balance in Oman
Oman - Fiscal Balance
The economy is under pressure in the first half of this year. Containment measures introduced to slow the spread of coronavirus—including travel restrictions, the closing of schools and universities, and the shutting of most businesses—have been hammering activity. Exacerbating matters, the recent slump in oil prices has forced the government to reduce its budget for 2020 by 10%, and has reportedly contributed to a decrease in the holdings of the national sovereign wealth fund. That said, despite its limited room for fiscal maneuver, the government has suspended several business taxes and postponed repayments of government-backed business loans to help struggling firms. Moreover, since the end of April, some businesses, such as money exchanges, repair shops and electronics stores, have been allowed to re-open.Oman - Fiscal Balance Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -17.6 | -21.1 | -13.9 | -8.7 | -9.1 |
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 % | Dec 31 |
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