Unemployment in Oman
Oman - UnemploymentThe economy likely recovered in Q3, after Covid-19 restrictions weighed on activity in Q2. Despite daily crude oil output and energy exports averaging lower in Q3 than in Q2, natural gas production hit record highs. Turning to the non-energy sector, some restrictions were loosened in Q3, while labor market conditions improved in September, which likely benefited domestic demand. In other news, in October, the government received USD 1 billion in financial support from Qatar and announced plans to implement a 5% VAT by April 2021 at the latest. Authorities will also tap global debt markets with a USD 2 billion bond sale in a bid to shore up government finances, as Covid-19’s impact on oil markets has weakened external balances. Meanwhile, S&P Global Ratings downgraded Oman’s credit rating in October—for the second time this year—from BB- to B+, citing the dire state of public sector finances.
Oman - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Oman Unemployment Chart
Source: World Bank.
|Exchange Rate||0.39||0.06 %||Dec 31|
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