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FINANCIAL NEWS
Oman’s economy contracts by 14.1 percent in 2015
05 Jul 2016
(MENAFN) Oman’s economy contracted last year after five years of growth, primarily on account of the drop in crude oil prices in the global market.
Furthemore, net exports faced a setback last year due to low oil prices, while prudent financial consolidation measures redcued government expenditure.
On the other hand, GDP contracted 14.1 percent in 2015, reflecting a reduction in two key constituents of aggreagte demand.
Accordingly, the creation of adequate employment chances for Omanis has been one of the main macro-economic objectives of the government in the recent years.
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
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