From the late 1990s until 2014 Oman’s fiscal balance had consistently remained in positive territory, according to IMF figures, with the sole exception of a small deficit of 0.3% of GDP registered in 2009. However, amid a decline in international oil prices towards the end of 2014, public finances moved into the red for the year, to the tune...
The number of sovereign wealth funds (SWFs) operating in the GCC has grown significantly in the last decade. The value of these SWFs – created to invest and manage the huge sums flowing into the region from hydrocarbons sales – stood at $2.9trn in December 2017, according to the Sovereign Wealth Fund Institute (SWFI), or 38.3% of the global...
How is Oman using data-powered services to achieve its development and diversification targets?
For the nations of the GCC, the drop in oil prices highlighted something many already knew: there is a pressing need for economic diversification and to further engage with global partners across different markets. To this end, countries in the region have made efforts to expand their international role and reach in recent years, with trade...
The guide contains listings of some of the leading hotels and resorts in Oman, as well as contacts for important for important government offices and services. It also contains useful tips and information for first-time or regular travellers.
Oman’s economy benefits from large oil and gas reserves, including a sizeable new gas field that began production in late 2017. Located between Asia and Africa – and adjacent to major international shipping routes – the sultanate’s geographic location also makes it a natural regional logistics and manufacturing hub. The authorities are seeking to leverage such advantages in order to diversify...
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