A conservative approach pays off for Oman | GulfNews.com:
"Policymakers in Oman have been steadfast in their espousal of a conservative mindset on economic policies. Recent statistics released by the Central Bank of Oman confirm just such a tendency.
The CBO noted that the country’s gross domestic product (GDP) at current prices grew by 2.8 per cent in 2013, and down from the 11.5 per cent achieved in 2012. This partially reflects the modest 3.2 per cent rise in budgetary spending in fiscal 2013, and down appreciably from the 26.2 per cent in 2012.
Public sector spending is essential to fuel economic activities in the Sultanate. But, clearly, the authorities are now heeding calls, including those voiced by the International Monetary Fund, for restraint on public sector expenditures and thus make them sustainable."
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