A May 2017 survey published by Oman’s National Centre for Statistics and Information found that 56% of Oman’s residents have accounts or deposits with banks operating in the sultanate, and this figure grows to 68% when only Omani citizens are counted. Omanis benefit from good access to financial infrastructure. The number of bank branches...
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...
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...
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...
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...
Ensuring access to education has been a prime objective for Morocco in recent decades. The country devotes a relatively high share of public and private resources to schooling, yet still struggles to maximise social and economic development. Despite attracting significant investment, growing demand means that keeping pace with the funds needed...
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