How would you assess the growth of non-oil exports in the country, and to what extent will special economic zones play a role?
Economy
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Articles & Analysis | Closer regional integration and new trade agreements enhance global trade from The Report: Oman 2020
Global trade faces protectionist headwinds that are dampening the outlook for growth in the coming years. According to the World Trade Organisation (WTO), trade volumes grew by 3% in 2018 and are anticipated to decline slightly to 2.6% in 2019 before rebounding to 3% in 2020. This may be the first time since the 2007-08 global financial crisis...
Articles & Analysis | Oman names priority sectors in push for economic development and diversification from The Report: Oman 2020
In its bid to drive diversification and economic growth outside the Muscat area, Oman has invested heavily in special economic zones (SEZs). A particular focus is on increasing the level of private sector activity, feeding into the Vision 2040 target of having 90% of GDP come from non-oil sectors and boosting the proportion of Omani employees...
Articles & Analysis | New fiscal reforms set to reduce Oman's budget deficit from The Report: Oman 2020
Following the drop in oil prices in 2014, the government budget has fallen into deficit. As a result, the authorities have implemented a bold series of fiscal reforms since 2015 to shift the budget on to a more sustainable trajectory. For instance, 2019 saw the introduction of a series of new excise taxes, referred to as sin taxes, on alcohol...
