Oman expecting economy to bounce back strongly
Published: January 31st, 2010
The Omani government is expecting the economy to bounce back strongly in 2010, following slower growth in 2009 as a result of the global financial crisis.
The minister of national economy, Ahmed Macki, was reported on January 2 saying that he anticipated Oman’s GDP to grow by 6.1% in real terms during 2010, with inflation remaining relatively stable at 3.5%. Macki also revealed to the public that Oman’s debt as of the end of 2009 stood at RO722m ($1.88bn), with RO252m ($655m) held domestically. The 2008 debt figures are not available. However, in 2007 national debt stood at RO1.001bn ($2.6bn), indicating that the government is continuing to pay down debt.
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