Oman's economy grows as inflation remains "under control"
Oman's economy is expected to grow by 5 percent this year, while inflation in the small oil exporter should reach 3 percent in 2012, Central Bank executive president Hamood Sangour al-Zadjali said on Tuesday.
Asked if he was concerned about the impact of rising global food prices on domestic inflation, Zadjali said:
"No, at the moment inflation is under control. We expect a rate of about 3 percent for this year."
Zadjali, who was speaking on the sidelines of a financial conference in the Qatari capital, also said he believed the International Monetary Fund's estimate for Oman's unemployment rate of 24.4 percent was too high.
"I'm not sure of the actual number, but it's lower than what the IMF said," he said.
- Calculating the true cost of regional strife
- Just BS? Why Israel's anti-BDS law can't really stop BDS internationally
- Malnourished economy: global hunger leading to $2 trillion loss in world GDP
- Going green: UAE looks to save Dh6.98b a year by 2030 with renewable energy
- Diversify and dump the slump in the GCC
- The health of the Kuwaiti economy in the current scenario is underlined by the controlled inflation even at such high liquidity levels
- Lebanese shoppers feel government inflation figure is an under-estimate
- The spirit of the Arab Spring lives on? Sultan Qaboos takes back decision to lift price caps due to public uproar
- Kuwait economy to grow steadily over next two years