GDP in Oman

Oman GDP | Economic News & Forecasts

Oman - GDP

The economic horizon continues to be clouded by serious fiscal problems. The country racked up a mammoth budget deficit in H1 despite a marked rise in oil revenues, and is struggling to constrain spending: Current expenditures¬¬—in particular on defense—actually rose in H1. In order to plug the gap, the government obtained a multi-billion-dollar loan from Chinese banks in mid-July, bringing total government borrowing this year to around USD 10 billion. In late July, Moody’s became the second major credit rating agency this year to downgrade the country, citing a lack of structural reforms to address fiscal and external imbalances and adapt to the weak oil price environment. However, international reserves remain relatively comfortable, and private sector credit growth is healthy, aiding consumption and investment.

Oman - GDP Data

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)7.1  4.4  2.5  5.7  -     

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Oman GDP Chart


Oman GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Center for Statistics and Information and FocusEconomics calculations.

Oman Facts

ValueChangeDate
Exchange Rate0.390.0 %Sep 21
Stock Market0.10.0 %Sep 21

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