Growth is estimated to have recovered to 2.1 percent in 2018, supported by rising non-hydrocarbon activity and higher oil output. However, the December 2018 OPEC+ agreement to cut oil production will dampen this recovery in 2019, as growth is projected to slow to 1.2 percent.
... See More + While narrowing, fiscal and current account deficits remain high, and debt ratios continue to worsen. The main risks to the economic outlook arise from a delay in fiscal adjustment, which will impede debt reduction and negatively affect business confidence and external financing costs in an adverse global environment.
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Growth is estimated to have recovered to 2.1 percent in 2018, supported by rising non-hydrocarbon activity and higher oil output. However, the December 2018 OPEC+ agreement to cut oil production will dampen this recovery in 2019, as growth is projected to slow to 1.2 percent.
... See More + While narrowing, fiscal and current account deficits remain high, and debt ratios continue to worsen. The main risks to the economic outlook arise from a delay in fiscal adjustment, which will impede debt reduction and negatively affect business confidence and external financing costs in an adverse global environment.
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Sixteenth in a series of annual reports comparing business regulation in 190 economies, Doing Business 2019 covers 11 areas of business regulation.
... See More + Ten of these areas - starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency - are included in the ease of doing business score and ease of doing business ranking. Doing Business also measures features of labor market regulation, which is not included in these two measures. Doing Business provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. This economy profile presents indicators for Oman; for 2019 Oman ranks 78.
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Real GDP growth in 2017 remained broadly flat due to Oman’s participation in the OPEC oil production cuts and fiscal austerity. The current account deficit has narrowed but remains large.
... See More + Similarly, the fiscal account deficit is estimated to have narrowed in 2017, and partiallyfinanced through external borrowing—leading to rapidly rising debt. The outlook is set to improve as growth picks up following a boost in oil and gas and from expected gains in the non-oil sector resulting from the government’s economic diversification plan.
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Real GDP growth in 2017 remained broadly flat due to Oman’s participation in the OPEC oil production cuts and fiscal austerity. The current account deficit has narrowed but remains large.
... See More + Similarly, the fiscal account deficit is estimated to have narrowed in 2017, and partiallyfinanced through external borrowing—leading to rapidly rising debt. The outlook is set to improve as growth picks up following a boost in oil and gas and from expected gains in the non-oil sector resulting from the government’s economic diversification plan.
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Doing Business 2018 is the 15th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it.
... See More + This economy profile presents the Doing Business indicators for Oman. Doing Business presents quantitative indicators on business regulation and the protection of property rights that can be compared across 190 economies; for 2018 Oman ranks 71. Doing Business measures aspects of regulation affecting 11 areas of the life of a business. Ten of these areas are included in this year's ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. Doing Business also measures features of labor market regulation, which is not included in this year's ranking. Data in Doing Business 2018 are current as of June 1, 2017. The indicators are used to analyze economic outcomes and identify what reforms of business regulation have worked, where, and why.
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This economy profile presents the Doing Business indicators for Oman. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator.
... See More + Doing Business 2017 is the 14th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. Economies are ranked on their ease of doing business; for 2016 Oman ranks 66. Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation. Doing Business 2017 presents the data for the labor market regulation indicators in an annex. The report does not present rankings of economies on labor market regulation indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why. The data in this report are current as of June 1, 2016 (except for the paying taxes indicators, which cover the period January–December 2015).
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The relationship between bank competition, firm access to finance, and economic growth is a much debated topic in the economic literature and in policy circles.
... See More + This paper uses a panel of 23 manufacturing sectors over 2002-10 to investigate the impact of bank competition on industry growth in the Gulf Cooperation Council economies. The results show that greater competition allows financially dependent firms to grow faster. In addition, the results show that lower restrictions on banks’ permissible activities, better credit information, and greater institutional effectiveness mitigate the damaging impact of low competition. These results are robust to a variety of checks. The findings suggest that improving bank competition should be an important aspect of the financial sector development agenda in the Gulf Cooperation Council.
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Policy Research Working Paper WPS7687 MAY 31, 2016
This report is a result of a study that aimed to identify more efficient institutional and governance structures to manage the transport sector in Oman.
... See More + It encompassed on road transport, maritime transport, railways, and road-based public transport. Aviation and airports were excluded from the scope of the study. The study consisted of an institutional review of transport sector organization in select countries. The case study countries were selected for a combination of attributes: well-managed systems known to be effective and with elements recognized internationally as good practice. The case studies map the institutional structures of their transport sector ministries and of individual transport sector modes (or sub-sectors). The countries represent a diverse group by geography and demographics. In addition, this paper describes how transport sub-sectors are organized in the five case study countries dealing respectively with: (1) the peak governance entity, typically a Ministry of Transport or equivalent, and the central functions of regulatory administration; (2) ports; (3) railways; (4) roads, (5) and public transport. Particular attention is given to structural, institutional, and financing dimensions. This report may be of interest to transport sector political leaders, public officials, and their advisers who may be contemplating the assessment or strengthening of transport sector governance in their own countries.
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Fishery and aquaculture are among the most ancient and important sectors of Oman economy, with deep cultural and social significance. Before oil was discovered in the 1960s, 80 percent of the population lived from agriculture and fishing.
... See More + However currently fishing is not economically productive. Many fishers are not involved full time in fishing, and despite significant subsidies, remuneration is often low. There is a need to improve economic management of the fisheries sector and create viable and sustainable employment opportunities. As a starting point, the Sultanate engaged the World Bank to assist in its effort to overhaul the fisheries sector, and help devise a plan for increasing the contribution that fisheries make to Oman's economy. This review offers a summary of the collaborative efforts involving the Ministry of Agriculture and Fisheries Wealth (MAFW), the World Bank (WB), and fishery stakeholders. Collaborative work laid rigorous groundwork for the development and implementation of the Fisheries and Aquaculture Vision 2040: "To create a profitable world-class sector that is ecologically sustainable and a net contributor to Oman’s economy." Vision 2040 and an accompanying Implementation Plan establishes a framework and processes to achieve these goals. The preparatory work has produced the Sultanate of Oman Fisheries and Aquaculture Vision 2040; the Implementation Plan of the Fisheries and Aquaculture Vision; and a proposed investment project document. The next stage includes implementation of the pilot investment project and technical support, as well as stakeholder co-management of four pilot fisheries. This strategy points to a better future in fishing higher-value species. Phase II, the first five years of implementing Vision 2040, will establish the policy and capacity for executing global best practices in the fisheries through organizational development, business development and management training, as well as planning for new institutions built around key players.
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Fishery and aquaculture are among the most ancient and important sectors of Oman economy, with deep cultural and social significance. Before oil was discovered in the 1960s, 80 percent of the population lived from agriculture and fishing.
... See More + However currently fishing is not economically productive. Many fishers are not involved full time in fishing, and despite significant subsidies, remuneration is often low. There is a need to improve economic management of the fisheries sector and create viable and sustainable employment opportunities. As a starting point, the Sultanate engaged the World Bank to assist in its effort to overhaul the fisheries sector, and help devise a plan for increasing the contribution that fisheries make to Oman's economy. This review offers a summary of the collaborative efforts involving the Ministry of Agriculture and Fisheries Wealth (MAFW), the World Bank (WB), and fishery stakeholders. Collaborative work laid rigorous groundwork for the development and implementation of the Fisheries and Aquaculture Vision 2040: "To create a profitable world-class sector that is ecologically sustainable and a net contributor to Oman’s economy." Vision 2040 and an accompanying Implementation Plan establishes a framework and processes to achieve these goals. The preparatory work has produced the Sultanate of Oman Fisheries and Aquaculture Vision 2040; the Implementation Plan of the Fisheries and Aquaculture Vision; and a proposed investment project document. The next stage includes implementation of the pilot investment project and technical support, as well as stakeholder co-management of four pilot fisheries. This strategy points to a better future in fishing higher-value species. Phase II, the first five years of implementing Vision 2040, will establish the policy and capacity for executing global best practices in the fisheries through organizational development, business development and management training, as well as planning for new institutions built around key players.
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This economy profile for Doing Business 2016 presents the 11 Doing Business indicators for Oman. To allow for useful comparison, the profile also provides data for other selected economies (comparator economies) for each indicator.
... See More + Doing Business 2016 is the 13th edition in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Economies are ranked on their ease of doing business; for 2015 Oman ranks 70. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies from Afghanistan to Zimbabwe and over time. Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation. The data in this report are current as of June 1, 2015 (except for the paying taxes indicators, which cover the period from January to December 2014).
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This Country Data Report summarizes the data from the Worldwide Governance Indicators (WGI) project for Oman. The WGI report six aggregate governance indicators for over 200 countries and territories over the period 1996-2014, covering: i) voice and accountability, ii) political stability and absence of violence, terrorism, iii) government effectiveness, iv) regulatory quality, v) rule of law, and vi) control of corruption.
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This paper describes a study carried out for the Ministry of Transport and Communications (MoTC), Oman to identify more efficient institutional and governance structures for Oman’s transport sector.
... See More + The paper has been prepared for a wider readership of transport sector political leaders, public officials and their advisers who may be contemplating the assessment or strengthening of transport sector governance in their own countries. The study also recommended that a new framework for Oman’s freight logistics be established outside the structure of MOTC. This will be led by an inter-ministerial logistics council, with a technical logistics center to undertake research and plan improvements, and a Logistics Consultative Committee that will provide an interface between the private and public sectors.
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This economy profile for Doing Business 2015 presents the 11 Doing Business indicators for Oman. To allow for useful comparison, the profile also provides data for other selected economies (comparator economies) for each indicator.
... See More + Doing Business 2015 is the 12th edition in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Economies are ranked on their ease of doing business; for 2015 Oman ranks 66. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies from Afghanistan to Zimbabwe and over time. Doing Business measures regulations affecting 11 areas of the life of a business known as indicators. Ten of these areas are included in this year's ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. Doing Business also measures labor market regulation, which is not included in this year's ranking. The data in this report are current as of June 1, 2014 (except for the paying taxes indicators, which cover the period from January to December 2013).
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This regional profile presents the Doing Business indicators for economies in Arab World. It also shows the regional average, the best performance globally for each indicator and data for the following comparator regions: Common Market for Eastern and Southern Africa, East Asia and the Pacific, Europe and Central Asia, Latin America, and OECD High Income.
... See More + The data in this report are current as of June 1, 2013, except for the paying taxes indicators, which cover the period January to December 2012. Regional Doing Business reports capture differences in business regulations and their enforcement across countries in a single region. They provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. The report sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies, from Afghanistan to Zimbabwe, over time. The data set covers 47 economies in Sub-Saharan Africa, 33 in Latin America and the Caribbean, 25 in East Asia and the Pacific, 25 in Eastern Europe and Central Asia, 20 in the Middle East and North Africa and 8 in South Asia, as well as 31 OECD high-income economies. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why.
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This regional profile presents the Doing Business indicators for economies in Middle East and North Africa (MENA). It also shows the regional average, the best performance globally for each indicator and data for the following comparator regions: Latin America, East Asia and the Pacific, Europe and Central Asia, South Asia, and OECD High Income.
... See More + The data in this report are current as of June 1, 2013, except for the paying taxes indicators, which cover the period January to December 2012. Regional Doing Business reports capture differences in business regulations and their enforcement across countries in a single region. They provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. The report sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies, from Afghanistan to Zimbabwe, over time. The data set covers 47 economies in Sub-Saharan Africa, 33 in Latin America and the Caribbean, 25 in East Asia and the Pacific, 25 in Eastern Europe and Central Asia, 20 in the Middle East and North Africa and 8 in South Asia, as well as 31 OECD high-income economies. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why.
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This economy profile presents the Doing Business indicators for Oman. In a series of annual reports, Doing Business assesses regulations affecting domestic firms in 189 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders.
... See More + This year's report data cover regulations measured from June 2012 through May 2013. The report is the 11th edition of the Doing Business series.
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A World Bank team worked closely with the Ministry of Education (MoE) on the Oman education sector study which was launched in October 2012. The Minister of Education expressed, at different occasions, her appreciation for both the product of this collaboration and its process.
... See More + This report provides a comprehensive review of the Oman pre-tertiary education and offers policy recommendations in light of international experiences. There are certain key steps in ensuring that the World Bank delivers a quality product and transfers knowledge to partners, including: clear roles and responsibilities for the bank and government teams; close collaboration between the teams; a focus on capacity building; a skillful, dedicated, and cohesive team; and focus on results.
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Since the 1970s, public education provision in Oman has flourished. Almost all Omani children of basic education age are now enrolled in schools, along with a high proportion (86 percent) of those of post-basic education age.
... See More + The Government of Oman has turned its attention to ensuring that the achievements made to date are not only maintained but also further enhanced to achieve a high-quality, efficient and relevant education system. This report is the result of an education sector study undertaken collaboratively by the Government of Oman and the World Bank to analyze the strengths and weaknesses of the system and to provide recommendations to continue to improve education outcomes in Oman. Drawing on evidence and information from a wide variety of sources, this report concentrates on pretertiary education and examines aspects of access to education, quality of learning, teachers and teaching methods, relevance of education to the labor market, and the financing and management of the education system. This report acknowledges the tremendous achievements that Oman has made in education provision to date and the capacity and political will that has facilitated the remarkable accomplishments. The challenge of improving education quality is not insurmountable for Oman, but it will require a shared vision, careful planning, focused use of resources and collaborative work involving all relevant stakeholders.
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