Oman’s economy is expected to contract by 2.8 per cent this year, the biggest slump since 1987, hammered by the impact of COVID-19 outbreak and lower global oil prices, according to the International Monetary Fund (IMF). 

As per the statistics provided in its World Economic Outlook released on Tuesday, the IMF expects Oman’s economy to rebound with a 3 per cent growth in 2021.