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FINANCIAL NEWS
Oman’s economy to grow 4.6 percent in 2013
21 Aug 2013
(MENAFN) Moody’s Investor Service expects a 4.6 percent growth in Oman’s economy this year and 4.1 percent growth next year, Times of Oman reported.
The rating agency said that Oman’s A1 stable rating is the result of its strong economy and fiscal metrics but that oil prices threaten both.
The Sultanate’s greatest challenge is its vast dependence on oil making an average of around 45 percent of its gross domestic product in the period between 2001 and 2011.
The country is already showing signs of a drive towards a diverse economy; an effort to push it away from dependence on the oil sector.
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