79259
Oman Expects 3% Growth
World Economy

Oman Expects 3% Growth

Oman’s economy is expected to grow by minimum 3% in 2018, according to the 2018 budget statement issued by the ministry of finance. The country expects the growth to be driven by oil price recovery and efforts to diversify the economy and improve investment climate, the budget statement said, Muscat Daily reported. The gross capital formation data for the period 2014-2017 showed an increase in private sector contribution to the implementation of investment schemes, rising from 52% in 2014 to 60% in 2017. Oman’s 2018 budget and ninth five-year development plan aim to improve the country’s investment environment and enhance the contribution of private sector in economic growth and diversification. Despite the financial and economic challenges posed by weak oil prices affecting investment activities and capital markets in the region, the budget statement said Oman’s privatization scheme will continue. “This scheme is essential to promote and expand participation of the private sector in economic activities.” According to the scheme, six state-owned enterprises will be privatized in 2018.

 

Short URL : https://goo.gl/9Mmbcx
  1. https://goo.gl/nfWHsp
  • https://goo.gl/GF5L18
  • https://goo.gl/ey6tae
  • https://goo.gl/7VXDrq
  • https://goo.gl/BW3s4d

You can also read ...

ECB President Mario Draghi (L) and US fed chair Jerome Powell at the ECB Forum on Central Banking in Sintra, Portugal, June 20.
The world’s most-powerful central bankers warned that...
Consumer prices rose just 0.1% in May, down from a 0.3% gain in April.
Canada’s economy showed unexpected weakness in the second...
Brazil CB Holds Rate Steady
For the second consecutive time, the Central Bank of Brazil...
China Trade Surplus Shrinks
China’s trade surplus shrank markedly in the first five months...
Inflation rate forecast for the full year is averaged around 3.1%.
Saudi Arabia is so intent on changing its identity that today’...
Turkey Sees 22% Yearly Decline in FDI
Turkey attracted some $3.1 billion in net international direct...
Ukraine Shadow Economy Drops to 31% of GDP
Shadow economy in Ukraine dropped by 4% in 2017, to 31% of GDP...
IMF to Lower Eurozone Growth Projections
The International Monetary Fund will downgrade growth...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus