Oman’s GDP grows 12.3% in 2018: report – ZAWYA

Oman’s GDP grows 12.3% in 2018: report – ZAWYA

The value added of oil activities increased by 36.7 per cent, and the GDP had grown from RO 27.1 billion in 2017 to RO 30.5 billion in 2018.The report also pointed out to the state budget, with the deficit in the Sultanates state budget reaching RO 2.6 billion, while the public revenues increased by 28.6 per cent reaching RO 10.9 billion.. The report stated that the domestic liquidity (M2) in Oman grow by 8.3 per cent in 2018, reaching RO 17.4 billion, compared to RO 16.1 billion in 2017.. The report of the Economic Outlook of the Sultanate also pointed out that the volume of foreign direct investment in the Sultanate till the end of the fourth quarter of 2018 has reached RO 10.6 billion, compared to RO 9.2 billion in 2017, while the inflows volume of the foreign direct investment till the end of the fourth quarter of 2018 has reached RO 1.4 billion.. It showed that the tourism share in GDP has declined from 2.7 per cent in 2017 to 2.6 per cent in 2018, while direct value added of the tourism sector has increased by 6.8 per cent in 2018, recording RO 788.6 million, compared to RO