With the steady increase in crude oil production and exports and the surge in oil prices in the mid-and late 1970s, Oman embarked upon an economic development path that transformed it into a prosperous country. Prudent utilization of oil revenues to develop social and physical infrastructure—with substantial investments undertaken in health, transportation, electric power, water supply, and communications—contributed to a rapid transformation of Oman’s economic foundation and structure. Today Oman boasts an impressive physical infrastructure, much improved socioeconomic conditions, and a high standard of living.

Policies Toward Sustainable Growth
  • Heller, P., Richard Haas, and Ahsan Mansur, 1986, A Review of the Fiscal Impulse Measure, IMF Occasional Paper 44 (Washington: International Monetary Fund).

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