67947
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 ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
The warnings come amid a period of financial uncertainty for the world.
US officials who helped the country survive the 2008 financial...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus