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After a visit to Oman, the International Monetary Fund forecast its GDP growth would be 1.3% this year, from 4.3% in 2022. The IMF said Oman’s economic growth is set to rebound in 2024, supported by higher hydrocarbon production and stronger non-hydrocarbon growth. “The economic outlook remains favorable ... fiscal and current account balances are projected to remain in surplus over the medium term albeit trending down along with oil prices,” said Cesar Serra, who led the staff visit to Muscat.

Oman’s economic recovery continues supported by favourable oil prices and sustained reform momentum and growth is expected to rebound next year, says an IMF mission satatement.

Oman’s economic recovery continues supported by favourable oil prices

Oman's economic growth is likely to slow down this year to 1.3 per cent as compared to 4.3 per cent in 2022, the International Monetary Fund (IMF) s