Oman economy expects to grow by nearly 8 per cent in 2022

SourceGulf Today
SectorEconomy
CountryOman

Oman economy expects to grow by nearly 8 per cent in 2022 2 hours ago A general view of Oman. File/ Reuters Oman’s economy is predicted to grow by 7.9 per cent in 2022, according to a new report from the World Bank, placing it among the world’s countries expected to grow fastest. The World Bank’s Global Economic Prospects, which was published in January 2021, and forecasts the growth of developing countries around the world, Oman’s predicted rate also places it at the front of the GCC countries, in terms of potential growth. At 11.8 per cent Niger is expected to grow fastest, according to the report. It is primarily African and Arab economies that are forecast to expand the most in 2022. Oman aside, the other countries forecast to grow are the Maldives (11.5 per cent), Ethiopia (8.7 per cent), Fiji (8.2 per cent), Iraq (7.3 per cent) and Djibouti (7.2 per cent). Meanwhile Oman started selling US dollar-denominated multi-tranche bonds on Thursday, a document showed. Oman is selling bonds with maturities of 10 and 30 years, and it re-opened $750 million bonds due in 2025, according to a document issued by one of the banks leading the deal. Oman, rated below investment grade...read more...