Econ­omy ex­pected to re­cover in 2018

Times of Oman - - FRONT PAGE - A E JAMES

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.

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