OMAN: The growth outlook brightens the further out you look

GULF COUNTRIES - Report 13 Nov 2019 by Rory Fyfe

Budget cuts and OPEC+ quotas will remain a drag on growth in 2020. 2021 looks brighter with new gas projects likely to come on stream, helping the economy and fiscal position, although oil production may remain capped by OPEC+. Further out, Oman has genuine long-term diversification potential that it is working towards, leveraging its natural advantages in logistics and tourism.

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