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  • 02-01-19

    Oman forecast to hit 3 percent raise in economic growth

    (MENAFN) Oman is forecast in its 2019 budget to record an at least 3 percent surge in its economic growth for this year.

    The Omani Ministry of Finance stated that "it is expected that the growth of the gross domestic product (GDP) will continue to improve over 2019, to at least at three per cent in real terms, supported by the growth of oil and non-hydrocarbon activities."

    The Omani economy, according to the budget statement, marked a magnificent growth rate even though the country undergone challenges throughout the first 3 years of the ninth 5-year plan.

    The statement added that "the 2019 budget framework aims at achieving a set of objectives and priorities, notably fiscal sustainability so as to enable the national economy in achieving economic growth targets, a diversified economy, and targeted rates of domestic and foreign investments."

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