IMF slashes Oman's 2019 economic growth forecast to 0.3% - Reuters:
The International Monetary Fund has cut Oman’s 2019 economic growth forecast to 0.3% from 1.1% as OPEC-led production curbs slash oil-related growth among Gulf energy producers.
The forecast comes after Saudi Arabia - the world’s top crude exporter - said on June 30 its first-quarter rate of economic growth shrank by more than half on a quarterly basis.
In lowering Oman’s expected real GDP growth rate to 0.3% from 1.1% the IMF said it expected its oil GDP to decrease by 1.1% against April’s estimate of a 0.6% contraction, the fund said in a statement late on Wednesday.
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