GDP in Oman
Oman - GDPThe 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
|Economic Growth (GDP, annual variation in %)||7.1||4.4||2.5||5.7||-|
5 years of economic forecasts for more than 30 economic indicators.
Oman GDP Chart
Source: National Center for Statistics and Information and FocusEconomics calculations.
|Exchange Rate||0.39||0.0 %||Sep 21|
|Stock Market||0.1||0.0 %||Sep 21|
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