1 thought on “Oman: positive developments”

  1. It is good to record these positive points on Oman; a lot is going on there to sustain the Sultanate’s role as a stable and moderating influence. The economy, though, remains an Achilles heel. Both new appointees at the Central Bank – Deputy Governor and CEO – are former Ministry of Finance officials with the experience to run day to day operations. But they are unlikely to impact on the underlying structural problem: the need, as Moody’s put it in downgrading Oman’s international bond rating in July, for ‘a clear and comprehensive fiscal and economic policy response …. offering the prospect of sustained changes to the government’s revenue and expenditure composition’. The IMF estimates that Oman’s fiscal break even oil price will remain close to $80 per barrel over 2017-18, basically unchanged from 2016.

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