Fiscal Balance in Oman

Oman Fiscal Balance | Economic News & Forecasts

Oman - Fiscal Balance

While oil production was steady in January–August in annual terms, hindered by agreed OPEC+ production cuts, the non-oil economy appears to be in good shape. Inflation averaged below half a percent in January–August, which should have supported private spending, while bank lending rose at a healthy pace in January–July in annual terms, which should have energized fixed investment. Looking at the public purse, the fiscal deficit narrowed by nearly two-fifths in January–July compared to the same period a year earlier, thanks to higher revenue and a small cut in spending. However, the government remains highly reliant on volatile oil revenues and, on 22 September, Central Bank President Tahir Al Amri had to dismiss suggestions the authorities were in talks for a financial aid package.

Oman - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-0.3  -3.4  -17.5  -20.9  -13.8  

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Oman Fiscal Balance Chart

Oman Fiscal
Note: Fiscal balance as % of GDP.
Source: National Center for Statistics and Information and FocusEconomics calculations.

Oman Facts

Exchange Rate0.390.06 %Sep 04
Stock Market0.10.0 %Sep 04

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