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FINANCIAL NEWS
Oman to record 4.62 percent economic growth in 2015
23 Jun 2015
(MENAFN) The Sultanate of Oman is forecast to record an economic growth of 4.62 percent this year, in spite of the decline in crude oil prices, according to a report issued by the Central Bank of Oman, Times of Oman reported.
Nonetheless, Oman’s Ministry of Finance’s has previously expected an economic growth of 5 percent for this year. The spurt is attributable to the growth in non-hydrocarbon sector and the increasing government spending.
“Despite continued fall in oil prices creating pressures on the fiscal space, growth outlook through public investment has not looked back. There is a temporary set-back, though,” the apex bank said in a statement.
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