Oman’s growth outlook is favourable: IMF

Oman’s growth outlook is favourable: IMF

Muscat – The International Monetary Fund (IMF) on Monday said that Oman’s near- to medium-term growth outlook is favourable, with risks to the outlook being broadly balanced. An IMF staff team, led by Cesar Serra, visited Muscat from April 30 to May 8, 2024, to discuss economic and financial developments, the outlook, and the country’s […]Muscat – The International Monetary Fund (IMF) on Monday said that Oman’s near- to medium-term growth outlook is favourable, with risks to the outlook being broadly balanced.

An IMF staff team, led by Cesar Serra, visited Muscat from April 30 to May 8, 2024, to discuss economic and financial developments, the outlook, and the country’s policy priorities. At the conclusion of the mission to Oman, Serra issued a statement.

In his statement, Serra said, “The near- to medium-term outlook is favourable, and risks to the outlook are broadly balanced. On the upside, growth and fiscal and external positions would be strengthened by a surge in oil prices, driven by supply and demand imbalances, and accelerated reforms under Oman Vision 2040, along with committed investments from regional partners. Downside risks to the outlook stem from further intensification of geopolitical tensions in the region, an abrupt global slowdown, particularly