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The International Monetary Fund (IMF) forecasts a 3.7 per cent growth in Oman’s real GDP for 2018.
In its World Economic Outlook for October 2017 which was published on Tuesday, the IMF estimated that the Oman’s deficit as percentage of the GDP will decrease from 18.6 per cent in 2016 to 14.3 per cent in 2018.
The IMF also forecasts a decline in Oman’s balance of payment deficit as a percentage of the GDP from 13.2 per cent in 2015 to 6.1 per cent in 2022.
The report said that the global recovery is still going on at faster pace and that the picture is different from early next year when the global economy was stumbling and the financial markets were fluctuating.
Globally, the IMF revised up its growth forecast to 3.6 per cent in 2017 and 3.7 per cent in 2018, both 0.1 per cent higher than its July projections. Global growth in 2016 was 3.2 per cent.
The Gulf region’s automation industry is on track for double digit growth over the next five years, as recovering oil prices and government economic diversification plans boost demand for industrial
UAE banks continue to perform well, with higher levels of profitability, and liquidity is expected to remain healthy for the remainder of 2018, leading global professional services firm Alvarez & Mar
Qatar's cost of living, based on consumer prices index (CPI), expanded 0.4% in May 2018 compared to the previous month, owing to higher expenses, particularly towards transportation, food, clothing,
Hala China, a Dubai government initiative to attract Chinese tourists, signed a slew of agreements on Sunday morning with local partners such as Emirates, Dubai Parks and Resorts, Bank of China, and
The second edition of ‘Made in Qatar’ exhibition to be held outside Qatar, will open in Muscat, the capital city of Oman, during November 5-9, in cooperation with the Ministry of Energy and Industry