Oman is a high-income country that has seen strong growth in economic output and exports in recent years. However, the economy is dominated by oil production, and the fall in international oil prices is putting pressure on GDP expansion as well as the sultanate’s fiscal and current account balances. In order to reduce the country’s exposure to...
Strong asset growth and the expansion of the newly launched sharia-compliant segment have been central to developments in Oman’s banking sector in recent years. A small number of institutions account for the bulk of market share, and this concentration is set to increase if a planned merger between Bank Sohar and Bank Dhofar goes ahead. The...
Located in the south-eastern quarter of the Arabian Peninsula, Oman is the only member of the GCC situated outside of the Gulf. Leveraging on its strategic location, investments in infrastructure have focused on the goal of becoming a global logistics centre. While less hydrocarbons-rich than its GCC neighbours, diversification efforts are a...
One of the most important issues currently facing the Middle East is the changing composition of its demographic structure. A massive cohort of young people – known as a youth bulge – is challenging policy makers, with youth policy affecting security, education, the labour market and welfare programmes, among other areas. Given the relative...
In what ways have the global environment and local economy changed the focus and implementation of Oman’s economic development plan?
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