Cover IMF Staff Country Reports
Buy Book in Print
Oman: 2022 Article IV Consultation-Press Release; and Staff Report
Author:
International Monetary Fund. Middle East and Central Asia Dept.
Search for other papers by International Monetary Fund. Middle East and Central Asia Dept. in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 343
Language:
English
Publication Date:
15 Nov 2022
DOI:
https://doi.org/10.5089/9798400226472.002
ISBN:
9798400226472
ISSN:
1934-7685
Pages:
79
Keywords:
IMF staff calculation; banking system liquidity; article IV consultation mission; oil price outlook; liability positions vis-à-vis nonresident; liquidity management framework; Fiscal consolidation; Oil prices; Fiscal stance; Global; Middle East and Central Asia
Download PDF (10.1 MB) Download Epub
This 2022 Article IV Consultation discusses Oman’s strong vaccination efforts have allowed for the relaxation of all social distancing restrictions, and the economic recovery is gaining traction. Uncertainties continue to cloud the outlook, with downside risks dominating in the short run. Reinforcing fiscal sustainability over the medium term, as envisaged under the Medium-Term Fiscal Plan, requires further revenue and expenditure measures. The exchange rate peg continues to serve Oman well. Efforts to strengthen the monetary transmission mechanism and establish the treasury single account should be carefully coordinated to maintain adequate banking system liquidity. Prudential rules should be restored to pre-pandemic levels as the impact of the pandemic declines. Close monitoring of banks’ asset quality remains essential. Steadfast implementation of reforms under Vision 2040 is needed to foster strong, job-rich, private sector-led growth. This would require enhancing labor market flexibility, improving the business environment, advancing state-owned-enterprises reforms, leveraging digitalization, and tackling climate challenges.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund