Macroeconomic Forecasts - Oman - JULY 2017


Macroeconomic Forecasts (Oman 2013-2019)
Indicator 2013e 2014e 2015e 2016e 2017f 2018f 2019f
e/f = BMI estimate/forecast. Source: National Sources, BMI
Population, mn 3.9 4.2 4.5 4.7 4.7 4.8 4.8
Nominal GDP, USDbn 78.1 81.7 73.3 75.2 77.5 80.9 85.1
GDP per capita, USD 21,497 20,804 17,618 17,429 17,603 18,188 19,018
Real GDP growth, % y-o-y 3.9 2.9 3.1 1.9 2.0 2.3 2.6
Consumer price inflation, % y-o-y, ave 1.2 1.0 1.0 1.1 1.6 2.5 3.0
Consumer price inflation, % y-o-y, eop 0.3 0.8 -0.1 1.1 2.0 3.0 3.0
Central bank policy rate, % eop 1.00 1.00 1.00 1.00 1.50 2.00 2.50
Exchange rate OMR/USD, ave 0.38 0.39 0.38 0.38 0.38 0.38 0.38
Exchange rate OMR/USD, eop 0.39 0.39 0.38 0.38 0.38 0.38 0.38
Budget balance, OMRbn 0.3 -1.1 -5.0 -4.7 -3.7 -3.3 -2.4
Budget balance, % of GDP 0.9 -3.4 -17.8 -16.3 -12.2 -10.6 -7.5
Goods and services exports, USDbn 59.3 56.2 41.4 40.8 45.6 49.2 54.6
Goods and services imports, USDbn 41.8 38.1 36.7 35.8 36.6 37.9 39.3
Current account balance, USDbn 5.2 4.1 -9.9 -9.8 -6.2 -4.1 -0.6
Current account balance, % of GDP 6.7 5.0 -13.5 -13.0 -8.0 -5.1 -0.7
Foreign reserves ex gold, USDbn 15.9 16.3 17.5 15.8 15.5 15.9 16.4
Import cover, months 4.6 5.1 5.7 5.3 5.1 5.0 5.0
Total external debt stock, USDbn 8.6 8.7 16.8 22.3 27.7 35.6 43.3
Total external debt stock, % of GDP 11.0 10.6 23.0 29.7 35.7 44.0 50.9
Crude, NGPL & other liquids prod, 000b/d 944.8 950.5 993.3 1,008.3 1,000.5 1,020.6 996.1
Total net oil exports (crude & products), 000b/d 752.4 750.6 786.0 792.9 777.7 790.1 758.6
Dry natural gas production, bcm 31.9 30.5 32.0 31.9 31.8 36.2 37.6
Dry natural gas consumption, bcm 21.9 23.4 25.1 26.1 26.4 28.7 29.9