Oman's economy grows as inflation remains "under control"

Published September 19th, 2012 - 07:00 GMT
Oman's economy continues to grow
Oman's economy continues to grow

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. 

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