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Middle East and Central Asia > Oman

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Cover Policy Papers
Gulf Cooperation Council (GCC) - Economic Prospects and Policy Challenges for the GCC Countries
International Monetary Fund
The already sluggish global recovery has suffered new setbacks and uncertainty weighs heavily on prospects. The euro area crisis intensified in the first half of 2012 and growth has slowed across the globe, reflecting financial market tensions, extensive fiscal tightening in many countries, and high uncertainty about medium-term prospects. Activity is forecast to remain tepid and bumpy, with a further escalation of the euro-area crisis or a failure to avoid the “fiscal cliff” in the United States entailing significant downside risk.
Keywords:
PP; GCC country; oil price; GCC economy; GCC government; nominal GDP; monetary policy; Oil prices; Foreign banks; Fiscal stance; Foreign currency exposure; Global; Europe