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FINANCIAL NEWS
Oman’s gross domestic product drops 14.2 percent
24 Jan 2016
(MENAFN) Oman’s nominal gross local product (GDP) decreased 14.2 percent over the first half of 2015, due to lower crude oil prices in global markets and serious global growth.
Furthermore, the petroleum sector (in GDP) declined by 38.2 percent, whereas the non-oil sector viewed a modest growth of 3.7 percent and Oman’s financial balance changed.
Additionally, the recent account balance also logged a lack through the first two quarters of last year, while the growth of monetary in the Sultanate continued its growing pattern.
Accordingly, the whole assets of straight commercial banks rose by 15.1 percent to USD 73.85bn in Nov 2015, from USD 64.1bn a year earlier.
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