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FINANCIAL NEWS
Oman’s economy to enhance by 2017
14 Dec 2016
(MENAFN) According to predictions of an oil price uptrend rebounding to USD60 per barrel on the back of last week”s deal by non-OPEC producers to cut output, Oman’s economy will grow in 2017.
Additionally, the economist was commenting on regional reports suggesting that the Sultanate’s 2017 budget would be based on an assumed oil price of USD45 per barrel.
Recently, with Oman’s crude prices prevailing well above USD50 per barrel in the wake of last week”s deal, the USD45 price forecast is an appropriate benchmark.
On the other hand, financial prudence does require some degree of belt-tightening in the coming year budget, despite 10 percent spike in its crude prices.
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