Oman Economy to Grow by 2.5%
World Economy

Oman Economy to Grow by 2.5%

Oman’s gross domestic product is expected to grow by 2.5% in 2018, up from 1.5% in 2016, the Euler Hermes Credit Agency said in a report published on its website, ONA reported. The agency also forecast that the deficit in the Sultanate’s current account will fall to 11% of the GDP in 2018, compared with 12% in 2017. The financial deficit is also expected to fall to 7% of the GDP in 2018, down from 9% in 2017. It pointed out that the measures adopted by the government have contributed to the decline in the budget deficit, due to the sharp drop in oil prices in 2016. The measures included increasing the corporate tax rate to 15% from 12%, and removing various tax exemptions. It also noted that the modest recovery in oil prices in 2017 (average $54 per barrel year-to-date, compared with $45 in 2016) should help improve state revenues and narrow the fiscal deficit to about 9% of the GDP.


Short URL : https://goo.gl/PbVNMP
  1. https://goo.gl/1fJnYo
  • https://goo.gl/KhfRq4
  • https://goo.gl/wbkvjo
  • https://goo.gl/dXpbQF
  • https://goo.gl/7jz5tw

You can also read ...

ADB Forecasts India Growth at 7.3 Percent
The Asian Development Bank expects India’s growth to pick up...
Dow futures dropped more than 100 points in early trading, as traders returned from the long holiday  weekend to face fresh selling pressure for US stocks.
A six-day rebound in world stocks began to splutter on Tuesday...
Ghana Told to Cut High Agro Imports
The World Bank country director for Ghana, Henry Kerali, has...
Chinese ironworks are increasingly  using Australian ore, which has  a high iron content.
Global stock markets are down from their recent peaks and...
London-based Capital Economics expects the German economy to expand by 2.7% this year. This would be above the government’s  more conservative forecast of 2.4%.
The German economy is expected to improve in the next six...
Indonesia Criticizes Trump’s Protectionist Policies
Indonesia is foregoing billions of dollars on offer from...
File picture of truckers in Buenos Aires during a demonstration last summer against the policies of Mauricio Macri.
The Argentine economy grew “close to 2.8%” last year, Guido...
Goldman Raises Red Flag Over US Gov’t Spending
US fiscal policy is headed for “uncharted territory.” That’s...

Add new comment

Read our comment policy before posting your viewpoints