MUSCAT: Oman’s gross domestic product (GDP) to grow by 7.4% in 2022 against 1.8% in 2021, according to outlook of the International Monetary Fund (IMF).

IMF report on prospects of world economy outlook (WEO) predicted that inflation in the Sultanate to retreat to 2.4% in 2022 compared to 3.8% in 2021.

Global prospects remain highly uncertain one year into the pandemic. New virus mutations and the accumulating human toll raise concerns, even as growing vaccine coverage lifts sentiment. Economic recoveries are diverging across countries and sectors, reflecting variation in pandemic-induced disruptions and the extent of policy support. The outlook depends not just on the outcome of the battle between the virus and vaccines—it also hinges on how effectively economic policies deployed under high uncertainty can limit lasting damage from this unprecedented crisis.