MUSCAT: Oman has made a remarkable progress in financial reform measures and the country’s economy is witnessing a gradual recovery from the repercussions of the Covid-19 pandemic, the International Monetary Fund has confirmed.
In a new study published on Wednesday, IMF explained that the non-oil sector in the Sultanate is witnessing a recovery with the return of economic activities and the increase in the frequency of vaccination against the coronavirus.
“The epidemic, in general, led to the weakening of the public debt situation in the Gulf Cooperation Council countries, which required commitment to the financial adjustment,” IMF said.
Read More
- CPA seizes 1,668 soft drinks, 177 expired juice cans in Oman
- Oman’s Labour Ministry warns against fictitious employment and data misuse
- Oman to witness penumbral lunar eclipse on August 28
- Onam fever grips Oman as supermarkets bustle, restaurants fill up ahead of Thiruvonam
- Oman targets 30% local health manufacturing in three years and cut reliance on imports
Earlier, Sultan Salim Al Habsi, Minister of Finance, has said that total general revenues of the State Budget 2022 are estimated at RO 10.58 billion, 6% higher than revenues expected due to be collected by the end of this year (2021). Oil and gas returns are set to comprise 68% of total revenues, against 32% for non-oil and gas revenues.
