Economy expected to recover in 2018
MUSCAT: Oman’s economy is expected to stage a smart recovery next year, with growth in gross domestic product seen at 4 per cent, according to a senior official at the Central Bank of Oman (CBO).
Speaking at a panel discussion on the performance of local economy organised by Thomson Reuters on Tuesday, Dr. Khalfan Mohammed Al Barwani, vice president, Financial Services and Operations, at CBO, said that according to a growth projection by the International Monetary Fund, the gross domestic product of Oman is expected to grow at more than 4 per cent in 2018, thanks to economic diversification programmes and prudent policies of the government.
“In 2017, we are seeing a little dip in terms of economic growth due to two reasons—a fall in oil production since Oman agreed to cut output along with OPEC and non-OPEC producers and a decline in government spending,” added Dr. Al Barwani. Full story @ timesofoman.com/oman
Dr. Khalfan Mohammed Al Barwani, vice president, Financial Services and Operations, at CBO.