Washington: At a recent statistical bulletin that was published on its website, the World Bank said that the Sultanate’s GDP increased from $256,299,469 million in 1970 to $66.29 billion in 2016 ie it has doubled 275 times in the same period.
The Bank also said that the highest GDP was recorded in 2014 as it hit $81.03 due to oil price hike. The Bank pointed out that the per capita GDP in the Sultanate increased from $320 in 1970 to 18,080 in 2015 ie it has doubled 56.5 times during the period.
The World Bank noted that the student enrolment rate in the Sultanate’s schools increased from 2.83 per cent of the total population at the school age to 109.28 per cent in 2015. The rate increased 100 per cent while adding the children who exceeded and who are below the school age. The Bank forecasts that the Sultanate’s GDP growth rate will be 2.9 per cent in 2017, 3.4 per cent in 2018 and 3.6 per cent in 2019. — ONA
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