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FINANCIAL NEWS
Oman’s GDP drops by 2.4pct in Q1
23 Oct 2016
(MENAFN) Oman’s GDP derived from the petroleum sector contracted by 34 percent in Q1 of this year and the non-petroleum sector declined by 2.4 percent.
Moreover, Omani crude oil fetched an average price of USD37.6 per barrel amid the Jan-August period of this year to USD60.2 per barrel in 2015.
Accordingly, given the trend of low crude oil prices and slowdown of the economy, the financial situation in the balance of payments came under pressure this year.
The Sultanate has engaged in tapping the global fiscal markets for external borrowings and the investor appetite has been positive.
More News
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BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
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BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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