In its World Economic Outlook for October 2017 which was published on Tuesday, the IMF estimated that the Oman’s deficit as percentage of the GDP will decrease from 18.6 per cent in 2016 to 14.3 per cent in 2018.
The IMF also forecasts a decline in Oman’s balance
of payment deficit as a percentage of the GDP from 13.2 per cent in 2015 to 6.1 per cent in 2022.
The report said that the global recovery is still going on at faster pace and that the picture is different from early next year when the global economy was stumbling and the financial markets were fluctuating.
Globally, the IMF revised up its growth forecast to 3.6 per cent in 2017 and 3.7 per cent in 2018, both 0.1 per cent higher than its July projections. Global growth in 2016 was 3.2 per cent.