The International Monetary Fund expected, in the report of Article 4 of the Sultanate of Oman, after the conclusion of the Fund’s experts’ visit, a financial surplus of 5. 3% and the decline in public debt to reach 43. 7% of the GDP for the current year, praising the procedures for containing the Kofid-19.
According to the Omani News Agency, today, Wednesday, the Fund indicated that the continued increase in oil revenues, the implementation of the implementation of the measures approved within the framework of Oman 2040 vision and to bring more investment projects will contribute to enhancing the financial performance of the Sultanate of Oman.
Expectations indicate that oil prices that are likely to remain relatively high and planned investment, along with structural reforms, contribute to enhancing the growth of the non -oil sector.
The Fund pointed out that the gross domestic product of fixed prices in 2021 witnessed a growth of about 3% compared to a contraction of 2-3% in 2020, and it is expected that the growth will reach about 4. 3% during the current year.
It is also expected that the recovery of economic activity and the growing global inflationary pressures will contribute to pushing the average inflation to 3% in the current year, and decreases in 2023 to 2.
5%, despite the risks of the expectations of an economic decline in the short term as a result of global geopolitical conditions and their impact on the global economy and oil prices, In addition to the renewal of the widespread coffee-19 injuries, and the high global inflation rates due to the high global food and energy prices.
The report indicated that the procedures for controlling the public financial conditions taken within the framework of the medium -term financial plan, along with the high oil prices, led to an improvement in the public finance balance and the balance of payments to a large extent..
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