MUSCAT: The Omani economy is expected to grow by 4.7 per cent in 2022, the Arab Monetary Fund (AMF) has forecasted.
This growth will be driven by both oil and non-oil activities, by 8.6 per cent and 2.9 per cent, respectively.
The 17th report on the Arab Economic Outlook has stated that the Omani economy is expected to grow by 5.7 per cent during 2023.
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The Omani government has followed many vigorous and effective steps towards promoting public health, which helped accelerate the pace of economic recovery, and this was manifested in lifting all restrictions related to COVID-19, the report said.
The report also highlighted the many measures taken by the Oman government at the level of public finance and monetary policy, which were sufficient to provide support to the affected individuals and companies.
The oil production in the Sultanate of Oman is expected to witness an increase of 9 per cent in 2022. This will have a positive impact on the volume of financial savings and investment expenditures in Oman, according to the AMF report.
