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Oman’s GDP projected to grow at 2.5% this year

Oman’s economy entered this year on a positive note, expanding 4.7 per cent y/y in Q1, outpacing the average growth rate last year and driven by non-oil output, which expanded 4.6 per cent.

While non-oil activities are forecast to grow 2.9 per cent, up from 1.6 per cent last year, headwinds in the oil sector, driven by Opec+ policy changes, will cause GDP growth to slow to 2.5 per cent year-on-year (y/y) compared to the 4.3 per cent y/y growth in 2022, according to the latest Economic Insight report, commissioned by ICAEW and compiled by Oxford Economics.

Link: https://timesofoman.com/article/136285-omans-gdp-projected-to-grow-at-25-this-year

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