International Reserves in Oman
Oman - International ReservesThe economy likely contracted sharply in H1 due to the coronavirus pandemic and the slump in oil prices. Containment measures introduced to slow the spread of the virus hammered activity and contributed to month-on-month falls in private-sector employment in both April–May, most notably among expatriate workers. Exacerbating matters, the recent slump in oil prices forced the government to reduce its annual budget by another 5.0% in May, on top of the 10.0% cut announced in April. More positively, and 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. Furthermore, containment measures have been gradually loosened over the past several weeks, which should support activity.
Oman - International Reserves Data
|International Reserves (USD)||17.5||20.2||16.1||17.4||16.6|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||0.39||0.06 %||Dec 31|
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