Macroeconomic Forecast Oman

Oman's economy expanded by 3.6% in real terms over the first half of this year, according to figures announced by the finance ministry. The figure compares with a real GDP growth rate of 3.1% in H110. The growth is a product of heightened oil revenues, which rose by 43% year-on-year in H111 owing to a spike in international energy prices. We expect that a decline in oil prices will restrict growth in H211, however, and are forecasting real GDP growth of 4.5% in 2011.

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