Wednesday, 22 May 2019 10:35 GMT

Macro indicators show recovery of Omani economy: H E Rahbi

(MENAFN - Muscat Daily) Muscat- H E Talal bin Sulaiman al Rahbi, deputy secretary general of the Supreme Council for Planning affirmed that the macroeconomic indicators show the recovery of the Omani economy in the first half of 2018. Oman's gross domestic product (GDP) at current prices reached about RO15bn in the first half of this year, achieving a growth rate of over 15 per cent.

He pointed out that oil activities led this growth, which grew by 37 per cent driven by the positive performance of natural gas production and the components of non-oil activities, which depend on it. Non-oil activities at current prices also showed a positive growth of over five per cent, reaching RO9.9bn compared to RO9.4bn in the same period of last year.

H E Rahbi said that reaping the fruits of the economic diversification programmes has started with faster trends for the growth of the promising sectors, with the manufacturing sector being the engine of this growth.

He added that Oman's GDP at current prices is expected to reach RO30.1bn by year-end, with a growth rate of 13.3 per cent, according to the Omani macroeconomic model. This model is consistent with the framework of the state's budget for the same year, driven by an increase in the contribution of the non-oil sector, which is expected to reach RO21.1bn.


Macro indicators show recovery of Omani economy: H E Rahbi

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