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Oman forecasts 3.4 pct GDP growth

The Central Bank of Oman

The Central Bank of Oman

The Central Bank of Oman has forecast real growth of the Sultanate’s GDP at 3.4 percent for the current and next year.
A report issued by the bank also predicted a hike in average global oil price to USD 104.2 per barrel during the current year and USD 97.9 per barrel next year.
The report said that bankers and financial and banking sector officials who conducted a study in this regard feel very confident of good performance in this sector, indicating that this is mainly inspired by the stability in oil prices.
The report said various indices show the likelihood of continuity of the state of stability and opportunities for growth during the current year, based on the local and global economic and financial developments in 2013.
The report pointed out that the preliminary financial results for the last few months of the current year, the demand outlook, oil prices, as well as the solid situation of the banking sector, the largest financier of various projects, are all factors that boost stability and suggest opportunities of growth.

Source : KUNA Kuwait News agency

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