The IMF revised down its 2023 GDP growth projection for Oman from 1.7% to 1.3% following the conclusion of a week-long staff visit to the sultanate on 19 June. But in general the IMF is positive on Oman’s economic outlook, praising “decisive strides in the structural agenda under Oman’s Vision 2040…Continued implementation will help diversify the Omani economy and boost prospects for strong, inclusive, and green non-hydrocarbon growth.”

While “Oman’s economy continues to grow,” this year’s slowdown “reflects oil production cuts by Opec+ and moderate growth in the non-hydrocarbon sector.” (CONTINUED - 379 WORDS)