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Country Economic Forecasts > Oman

  • July 2017
  • 8 pages
  • Oxford Economics
Report ID: 1907623

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We have downgraded our forecast for GDP growth this year to just 0.2% from 0.4% in our April update due to a slightly larger than expected fall in oil output following the extension of the OPEC production cuts announced in May and a revision to our oil price forecast. And the ratings downgrade to junk status by S&P in May will also weigh on near-term prospects. But there are still some positive signs in the economy such as the successful sovereign bond issue in March and an expected increase in gas production, with the latter is expected to see GDP growth rebound to about 5% in 2018.

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