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Review of the Omani Economy, Jan – Sept 2019https://cbo.gov.om/report/OccassionalPapers/1064/1/2020 8:00:00 PMReview of the Omani Economy, Jan – Sept 2019The CBO has released the Review of the Omani Economy during the first nine months of 2019. The review covers an analysis of the macroeconomic developments in the Sultanate.https://publishing.bnet.om/sites/assets/Documents/English/Publications/OccasionalPapers/ReviewoftheOmaniEconomyJanSept2019Eng.pdf<span class="ms-rteFontSize-3 ms-rteThemeFontFace-1 ms-rteThemeForeColor-2-0">The CBO has released the Review of the Omani Economy during the first nine months of 2019. The review covers an analysis of the macroeconomic developments in the Sultanate. </span>
Liquidity Management Framework and Interbank Overnight Interest Rate in Oman: An Empirical Investigationhttps://cbo.gov.om/report/OccassionalPapers/939/28/2019 8:00:00 PMLiquidity Management Framework and Interbank Overnight Interest Rate in Oman: An Empirical Investigation​The CBO’s Occasional Paper 2019-1 investigates the extant liquidity management framework and drivers of Oman’s overnight inter-bank interest rate. https://publishing.bnet.om/sites/assets/Documents/English/Publications/OccasionalPapers/LiquidityFrameworkandInterbankRateAcademic.pdf<p style="text-align:justify;">​The CBO’s Occasional Paper 2019-1 investigates the extant liquidity management framework and drivers of  Oman’s overnight inter-bank interest rate. The authors observe that Oman’s overnight inter-bank interest rate generally follows the trends in federal fund rate due to currency peg with the US dollar and open capital account. Furthermore, the empirical results establishes that federal fund rate along with domestic liquidity conditions are the main drivers of the overnight inter-bank rate in Oman. Accordingly, the authors underline that intermittent deviations of Oman’s overnight inter-bank rate from the federal fund rate appears to have been caused by evolving domestic liquidity conditions and less than perfect arbitrage due to various prudential limits.</p>
Mid-Year Review of the Omani Economy 2018https://cbo.gov.om/report/OccassionalPapers/793/13/2019 8:00:00 PMMid-Year Review of the Omani Economy 2018The CBO has brought out the Mid-Year Review of the Omani Economy for 2018, which covers the recent macroeconomic developments in the Sultanate.https://publishing.bnet.om/sites/assets/Documents/English/Publications/OccasionalPapers/2018MidtermReviewEn.pdf<p>​The CBO has brought out the Mid-Year Review of the Omani Economy for 2018, which covers the recent macroeconomic developments in the Sultanate. Omani economy gained further momentum in the first nine months of 2018, reflecting a surge in oil prices and traction gained by non-oil economic activities. The nominal Gross Domestic Product (GDP) grew by 15.3 percent during this period 2018 as against 8.0 percent in the corresponding period of 2017. The petroleum sector remains an important driver of the economy in the Sultanate with major contribution emanating from oil. Inflationary conditions remained benign and supportive of growth in the economy. Headline Inflation in Oman moderated to 0.9 percent during Jan-Sept 2018 from 1.6 percent in the same period of 2017. The higher oil prices in conjunction with fiscal measures, implemented over the last years, helped in improving fiscal position. The monetary aggregates in Oman expanded during 2018 with an increase in domestic assets remaining as the primary source of such expansion. The credit conditions also improved and bank credit grew year-on-year by 7.5 percent as at the end of September 2018, suggesting some rebound in investment activities. The CBO also undertook several regulatory and supervisory initiatives during 2018 to improve the space for lending and liquidity management of banks.  Following the trends prevailing in USA, domestic interest rates generally hardened during the year. The money market functioned smoothly with appropriate liquidity and short-term interest rates remaining largely aligned. Oman's external account also improved with trade surplus increasing substantially by about 128.6 percent during Jan-Sept 2018. Improved trade balance coupled with the evolving dynamics of services, income and current transfers suggests a lower current account deficit during Jan-Sept 2018. Oman's net foreign assets dropped by 2.9 percent at the end of Sept 2018 over the level at the end of December 2017, reflecting overall balance of payments deficit.   </p>

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