With the continuing higher oil prices and the incremental contribution from non-oil income, the Omani economy is set to continue its stable pace of growth during the year ahead. The thrust on government project spending is evident from the RO 1.4 billion tender awarded during the period from January to November 2012.
“As the allocation for development programme have been raised by about 30 per cent to complete infrastructure projects under way, like ports, airports, roads etc, this allocation will improve foreign as well as local investments and provide sources of income, employment and improved standard of living of citizens. The higher disposable incomes will support the demand side, favouring the overall market,” says Suresh Kumar, Head of Research, Al Maha Financial Services.
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