Sultanate’s GDP to grow by 2.9 per cent by 2020

MUSCAT: The World Bank has forecast the Sultanate’s economy to boom in 2018, particularly with the output increase in Khazzan gas field.
The World Bank report on the economies of the Middle East and North Africa region expected Oman’s GDP to grow by 2.9 per cent by 2020.
The World Bank hopes for a boom in trade and investment opportunities in the Sultanate buoyed by the development of the business environment, promulgation of the foreigners ownership law, the law for supporting SMEs and the public-private partnership law.
Meanwhile, the International Monetary Fund said on Tuesday that the global economy is expected to grow at a solid pace through next year, boosted by faster expansion in the United States and Europe, but after that risks will build.
In the latest update to its World Economic Outlook, the IMF still predicts world growth of 3.9 per cent in 2018 and 2019, unchanged from January despite raised estimates for US and EU growth. — Agencies