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FINANCIAL NEWS
Muscat’s economy has reached $95 Billions
08 Sep 2013
(MENAFN) According to data released by a global management consultancy showed that Oman’s economy is expected to reach USD95 billion at the end of 2018 as a result of a boom in the industrial setor, Times of Oman reported.
Financial minister, Dariwish bin Ismail bin Ali Balushi, said that the economy is expected to growby 6 percent this year.
Lucinte, a global management consulting company, said that the Sultanate’s economy continues to grow well during the global economic recession due to prudent economic policies.
“In recent years, the major focus of Oman economy is to stretch its dimensions in terms of economic growth and enter other,” Lucinte said.
Lucintel has made preparations for a study titled “pestle Analysis of Oman 2013” by compiling a competitive analysis of the political, economic, social, technological, legal and environmental risks in the country. It also provides a general look at the challenges faced by Oman’s economy. Oman’s heavy dependence on oil made growth rates highly changeable and subject to speculation as oil prices might decline.
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