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FINANCIAL NEWS
Oman economy jumps by 4pct
04 Sep 2016
(MENAFN) Oman economy achieved 4 percent increase in the recent price despite the drop in oil prices since mid-2014.
Accordingly, amid the Eighth Five-Year Plan, GDP at the recent prices rose by 4 percent while the predicted growth rate was set at 6 percent.
Additionally, the inflation rate stood at almost 1 percent, while the government grew public spending from OMR33.8bn to OMR67.1bn.
Meanwhile, GDP at the current prices viewed an increase over the last five years, the highest in 2014 at OMR31.4bn and the lowest in 2011 at OMR26.7bn.
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