Oman Year in Review 2014 | glObserver Global Economics

With earnings from oil accounting for additional than 80% of government gain, the halving of prices since June has eroded national revenue and could impact the extensive capital works programme in 2015, despite a government pledge to hike this year’s spending by 4.5% from its before plans.


Oman’s economy is expected to expand by 5% in 2015, against an estimated 4.4% increase in GDP last year, according to a Ministry of Finance statement in early January. Increase in non-oil activities is expected to reach 5.5% while government spending is estimated at OR14.1bn ($36.6bn). Revenues are projected at OR11.6bn ($30.1bn), which leaves an anticipated deficit of OR2.5bn ($6.5bn), equivalent to about 8% of Oman’s annual GDP.

See on Scoop.itglobserver middle east


Author: globserver

Director of Eyecom china

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