MUSCAT: Oman’s economy has managed to address the decline in oil prices in the first quarter of the fiscal year 2015, reported the Central Bank of Oman (CBO).
The CBO expects a five per cent growth in 2015, which is very close to the figures reported in 2014.
Central Bank of Oman affirmed that despite the decline in oil prices, the Omani economy can overcome this situation. It added that there are good indicators in the market, such as the decline in non-performing loans (NPL) to almost 2 per cent, which is a very good rate when compared to international rates.
Moreover, the Sultanate has good monetary reserves with the banks and government bonds will be one of the ways to address the deficit of the budget.
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