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Non-oil sector to drive Oman’s economic growth in 2023

Non-oil sector will drive Oman’s economic growth in 2023, thanks to positive momentum and rapid expansion in a range of sectors in the sultanate, according to a new report. ‘The outlook for Oman’s non-oil sector remains positive, buoyed by government infrastructure spending, a surge in tourist arrivals, and falling inflation,’ Emirates NBD, a leading bank of the UAE, said in a research report. Emirates NBD forecasts Oman’s real GDP growth at 1.7% for 2023, following 4.3% in the previous year. For non-oil GDP, Emirates NBD forecasted a growth of 3.5% this year.

Link: https://www.zawya.com/en/economy/gcc/non-oil-sector-to-drive-omans-economic-growth-in-2023-mio1evin

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