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FINANCIAL NEWS
Oman’s economy drops 2.8 percent in Q1
05 May 2014
(MENAFN) Oman”s economy saw a significant drop in 2013 to hit its slowest pace since 2009 after falling 2.8 percent in nominal terms, according to Gulf Daily News.
In 2012, Oman”s economy posted 11.5 percent growth at current prices compared to an estimated 10.8 percent after the National Centre for Statistics and Information revisited its 2011 data.
Experts expect real GDP growth to hit 4.5 percent in 2013 and 4 percent in 2014, while ramped up state spending were estimated at 27 percent between 2011 and 2013.
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