Author
International Monetary Fund. Middle East and Central Asia Dept.
Publication Date
2021
Publication Place
Washington, D.C. -
International Monetary Fund
Subject
International agencies, International Agreements and Observance, International Economics, International institutions, International organization, International Organizations, Monetary economics, Monetary Policy, Monetary policy, Money and Monetary Policy, Oman
Type
Book
Language
Arabic
Digital
Yes
Manuscript
No
Pages Count
93
Library
Wesleyan University Library
Library Asset ID
ISBN : 9781513596594, ISBN : 1513596594
Record ID
alma9933318115803768
Library Location
See online access
Date
2021
Notes
Sultan Haitham ascended to the throne in January 2020 and has committed to implementing strong fiscal and structural reforms to address longstanding vulnerabilities. In addition to persistent fiscal deficits arising from incomplete adjustment to lower oil prices since 2015, Oman faced twin shocks from the COVID-19 pandemic and a collapse in oil prices in 2020 that amplified fiscal and external vulnerabilities. The authorities moved rapidly to contain the spread of COVID-19 infections and provided broad-based policy measures to limit its impact on the economy. In addition, frontloaded fiscal consolidation has been implemented in the 2021 budget as part of the authorities’ Medium-Term Fiscal Plan (MTFP) which aims to eliminate the fiscal deficit over the medium term. Banks have high capital buffers and liquidity, but credit risk is a concern going forward. Structural reforms have been accelerated under Oman Vision 2040 to boost non-oil private sector growth and facilitate job creation.
Seri
IMF Staff Country Reports, IMF Staff Country Reports; Country Report ; No. 2021/206
