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The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current agenda. Indeed, in recent years, the non-OPEC oil exporter’s economy has been undergoing a steady transformation, reorienting from oil toward a more diverse set of service and industry-based economic activities. So far, progress has been promising. In 2011 oil and gas accounted for 38.8% of GDP. With the continuation of higher-than-expected energy prices in 2012, the government has increased economic investments accordingly. These investments, which include infrastructure, social programmes and small-business development, are aimed toward better preparing the country for its post-fossil fuel future.
Oman’s GDP grew 4.6% between 2013 and 2014 according to the Oman Central Bank, with hydrocarbons the main driver of the economy at almost 50% of GDP. Although the dip in oil prices has put pressure on government revenues, authorities are pressing ahead with spending plans for the sector, particularly in the downstream segment. The country’s infrastructure expansion plans are also moving forward, particularly at the country’s three ports as the country seeks to leverage its strategic position on the Strait of Hormuz and establish itself as a global transport and logistics hub. Feeding off this development drive are the sultanate’s banks, with project finance regarded as one of the most promising areas for lending growth. In the longer term, Oman Vision 2020 seeks to boost private sector participation in the economy and fuel SME growth in key sectors, including construction, retail, tourism and transport.
This report analyses the impact of “Shifting wealth” on social cohesion, largely focusing on high-growth converging countries.
This book explores an area that has been somewhat overlooked in the literature to date – the current status and future trends of English education in Oman. It offers a variety of theoretical and methodological approaches to the subject and explores areas of English education in Oman that have, until now, been little investigated. It explores these issues from a variety of perspectives: the professionalization of English teachers in the country; the implementation of novel teaching methodologies, curricula, and assessment approaches, into what are, in many ways, still very traditional education settings; the integration of learner identity into English language instruction; country- and culture-specific concerns with conducting research with Omani participants; the strategic demands of building stronger links between education and workforce needs; and developing learner autonomy and motivation.
The Sultanate of Oman is one of the few "good news" stories to have emerged from the Middle East in recent memory. This book traces the narrative of a little-known and relatively stable Arab country whose history of independence, legacy of interaction with diverse cultures, and enlightened modern leadership have transformed it in less than fifty years from an isolated medieval-style potentate to a stable, dynamic, and largely optimistic country. At the heart of this fascinating story is Oman’s sultan, Qaboos bin Sa’id, friend to both East and West, whose unique leadership style has resulted in both domestic and foreign policy achievements during more than four decades in office. Exploring Oman from a historical perspective, Funsch examines how the country’s unique blend of tradition and modernization has enabled it to succeed while others in the region have failed. Accounts of the author’s own experiences with Oman’s transformation add rich layers of depth, texture, and personality to the narrative.

Oman

International Monetary Fund. Middle East and Central Asia Dept.

Published: 2024-01-29

Total Pages: 92


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Economic activity has recovered, supported by favorable oil prices and sustained reform momentum. Inflation remains low. After years in deficit, fiscal and current account balances have turned into surpluses on the back of high energy prices and prudent fiscal management. Public sector debt has been reduced markedly as windfall savings were deployed to prepay debt. The authorities have made substantial progress in implementing Oman Vision 2040, but more remains to be done to reduce Oman’s reliance on hydrocarbons and bolster prospects for non-hydrocarbon growth.
This book presents a detailed overview of the firearms used in Oman over the last four centuries. Portable firearms, rifles and cannons are all discussed in detail with supporting illustrations. The weapons described in this book are mostly from the National Museum Oman and Bait al Zubair Museum in Muscat.
India Migration Report 2014 is one of the first systematic studies on contribution of diasporas in development, in countries of origin as well as destination. This volume: examines how diasporic human and financial resources can be utilized for economic growth and sustainable development, especially in education and health; offers critical insights on migrant experiences, transnationalism and philanthropic networks, and indigenization and diaspora policies, as well as return of diasporas; and includes case studies on Indian migrants in the Gulf region — in particular, Bahrain, Oman and Saudi Arabia — and the United Kingdom, among others. With essays by major contributors, the volume will interest scholars and researchers on economics, development studies, migration and diaspora studies, and sociology. It will also be useful to policy-makers and government institutions working in the area.
According to World Bank (2021), the economic recovery post-COVID-19 in the Middle East and North Africa (MENA) has been uneven and tumultuous. Reasons for this include exposure to oil-price fluctuations, the impact of pandemic, public demonstrations, and political instability. Although the MENA region encompasses a variety of countries — wealthy, stable and oil-rich countries such as Saudi Arabia and Qatar as well as less secure countries such as Iraq and Syria — it plays an important role in the global economy.Handbook of Banking and Finance in the MENA Region explores the trends in finance and banking of the MENA region, including theoretical and empirical perspectives from researchers around the globe. The first part of the book explores numerous reforms in the region's banking and finance, including digital technology, financial technology (fintech) and green finance. While financial inclusion in the Gulf Cooperation Council is much higher, the other countries in the MENA region have yet to overcome this trend, and the second part of the book provides specific case studies of ways in which banks have contributed to the region. The final section of the book considers macroeconomic factors and financial development. Together these perspectives enrich the discussion of facts and development challenges in the finance and banking of the MENA region as a whole.