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Saturday, 15 October 2016

Oman has work to do on capping budget deficit | GulfNews.com

Oman has work to do on capping budget deficit | GulfNews.com:

"Many of the recently released growth indexes and economic reports give mixed results for the Omani economy. Yet, determined efforts on the part of Omani authorities to streamline expenditures should enhance the country’s performance.
Oman is ranked 59th among 159 economies on the 2016 index of Economic Freedom of the World. The same report gives the UAE, Qatar and Bahrain rankings of five, 12 and 26, respectively. Oman’s standing is ahead of Kuwait and Saudi Arabia.
The study relies on some 42 variables including subsidies, property rights, inflationary threats, capital control and minimum wage. The environment of low oil prices is allowing for the near absence of inflation in Oman, hovering now at below 3 per cent. Also, work is underway to cut down on subsidies and benefits."



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