The report issued by the National Center for Statistics and Information on "Features of the Omani Economy" showed that the rate of GDP growth will reach 3% during the period of the ninth five-year plan (2016-2020) in the Sultanate, as a result of the policies adopted for economic diversification to support the five targeted sectors within the program National to promote economic diversification (Implementation). In addition to the continuation of efforts to reduce the public budget deficit, reduce high levels of public debt, and stimulate private sector investment.
According to the report, the Sultanate’s inflation rate is expected to rise from 1.4% in 2019 to 1.9% in 2020.
With regard to the state’s general budget, the value of the deficit achieved in the Sultanate’s general budget amounted to 2.6 billion Omani riyals, while total revenue rose 28.6% to register 10.9 billion, and the total public spending rose by 10.8% to 13.6 billion.
Source: (The New Arab Newspaper, Edited)
