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FINANCIAL NEWS
Oman predicts 2pct economic increase this year
02 Jan 2017
(MENAFN) Oman projects that the country’s economy will grow by 2 percent in 2017, driven by a recovery in crude oil prices.
Additionally, the non-oil sector is projected to increase by 4.7 percent this year, with the help given by the government.
Accordingly, the Sultanate’s economy for the first half of 2016 declined by 11.1 percent to almost OMR11.51bn from OMR12.95bn posted for the same period of 2015.
Meanwhile, the average inflation, which is calculated on the basis of consumer price index, is predicted below 2.8 percent level in the recent year.
M
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