Submission Deadline
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Before 6pm on:
15 working days after deadline (All Levels)
Click or tap to enter a date.
TBA
Module title & code
Principles of Economics / POE BC 03-1
Assignment number and title
Assessment 2 / (CW-JO)
Assessment type
Course work – Journal
Weighting of assessment
50 %
Module learning outcomes
1.Knowledge and Understanding:
To demonstrate the knowledge and understanding of the fundamentals of both Micro and Macro
economic theories and concepts.
2. Skills and Abilities:
To demonstrate the knowledge and understanding of different market structures and their implications
on the consumer.
What am I required to do in this assignment?
Read the following scenario and complete the tasks given below:
GDP of Oman is expected to reach 116.16 USD Billion by the end of 2023, according to Trading Economics global
macro models and analysts’ expectations. In the long-term, the Oman GDP is projected to trend around 119.30 USD
Billion in 2024 and 122.88 USD Billion in 2025, according to our econometric models.
Oman is set to become the fastest-growing economy among the six GCC nations in 2023, with a 4.3% projected growth,
according to a report by the World Bank.
The World Bank is also predicting a slowdown of GDP growth across the GCC, revising its 2023 economic growth
projection for the GCC downwards to 3.2% from the 3.7% forecast in October. (World Bank, 2022)
The student is required to:
a. Maintain a digital file / journal / scrapbook of economic news to cover the Oman’s Macroeconomic indicators such as: Inflation,
GDP and Unemployment in the last 10 years and highlight supportive measures initiated by the Government.
Secondary data must be collected from academic sources of literature (OECD, IMF, World Bank and Government reports etc.,)
b. A minimum of (10) data items should be attached along with the source and date. Relevant interpretation should be written
with a clear understanding of the economic inferences and implication of the news.
c. The digital news journal should be submitted as an attachment to a written report.
d. You are required to write a report of 1500 words based on the findings concluded from the collected news. In the report you
should relate the concluded findings to your knowledge of the macroeconomics concepts and to the international economic
environment.
e. You should write a title for the e-journal. The title must be related to the contents you are describing.
f. To address the given tasks, you will have to refer to the lecture notes and conduct independent research which would give
the necessary skills that are required. Academic sources of literature are essential.
Deliverables
Submission
Submission of the individual report will be done via Turnitin Link on MOVE. At the time of submission, you need to make sure
that the assignment is your own and all the sources have been acknowledged.
Is there a word limit (Number of Words ± 10%)?
1500 words
10% (+/-)
no penalty
11-20% (+/-)
Reduction of 5
Marks
21-30 (+/-)
Reduction of
10 Marks
31-40% (+/-)
reduction of 15
Marks
41-50% (+/-)
Reduction of 20
Marks
+ 50%
Fail the assessment
For more details refer to Student Handbook Section IV: Assessments 4.8.9.
What do I need to do to pass? (Threshold Expectations)
2
In order to pass this assessment, you need to prepare an e-journal that includes all the required information as mentioned in
the task.
The e-journal should be clear and adequately patterned and designed. Content arrangement should be clear and adequately
help the viewer to understand without narration.
Your understanding of the issues should be clear in the commentaries provided below each piece of news. You are also
required to submit a written report of 1500 words, discussing your findings and highlighting any support provided by the
Omani Government.
The report should be based on the news collected and should be related to your knowledge of macroeconomics and the
international economic environment.
The e-journal should be submitted as an attachment to the written report.
How do I produce high quality work that merits a higher grade?
Emphasis is both on quality and quantity. Students are expected to focus on relevant news and to be able to relate their real
findings to the economic concepts they learnt.
Please check the rubric at the end of this document. You can score good grades by assuring the following.
•
•
•
•
Exhibiting a high level of understanding with the ability to synthesize and summarize information precisely.
Demonstrating effective knowledge over the given topics.
Using technical vocabulary to present relevant, accurate and clear commentaries.
Providing sufficient and detailed response to the given tasks
How does assignment relate to what we are doing in scheduled sessions?
In the course of the task preparation, there will be orientation and briefing to guide the students to the proper things to do in
complying the assignment task. Thus, during the briefing sessions, students will be able to ask questions for further
clarification. The orientation should be a venue to help students to properly carry out the task, but they are expected to do it
outside the class sessions.
During classes the lecturer will provide you information that is related to the topics. You will also be involved in class
activities in order to introduce you to the skills required. Topics: 6, 7 and 8 of your POE modules cover the required
macroeconomics information. MOVE activities will again help you in handling the assessment.
3
How will my assignment be marked?
Your assignment be marked according to the threshold expectations and the criteria on the following page.
You can use them to evaluate your own work and estimate your grade before you submit.
Weighing
(%)
No
Criterion
1
Content
Accuracy &
Relevance of
Information
search
25
AnalysisInterpretation
of data
collected to
the given task
30
2
Sub
Standard /
No Attempt
(0 Marks)
Poor
(20 Marks)
Satisfactory
(40 Marks)
Good
(50 Marks)
Very Good
(60 Marks)
Excellent
(70 Marks)
No
Information
of Content
Accuracy. No
Evidence of
Information
Credits
No accurate
facts
displayed.
Few
accurate facts
displayed;
relevant
macroeconomic
variables
/information/
statistics
present but it
is incomplete
Some accurate facts
displayed;
some/partial relevant
macro-economic
variables
/information/statistics
are present.
Reasonable and
accurate facts
displayed, some
relevant macroeconomic variables
/information/statistics
are present, with
contemporary
searches
Adequate accurate
facts displayed.
Examples of
appropriate relevant
macro-economic
variables
/information/statistics
are present, with
contemporary
searches. The
data/information is
represented with
higher clarity and
precision. Data
relevant to both local
contexts is used to
address the tasks.
Excellent accurate
facts displayed.
No relevant
data
availableanalysisevidence not
found
The majority
of the data is
irrelevant to
tasks except a
few and
interpretation
skill is not
evidenced.
Data is
available but
insufficient.
Interpretation
skills are
evident but a
novice level.
Some
inferencing is
evidence to a
minimum
Interpretation of data
is evidenced in the
report with the
available data and
exhibits a good level
of inferencing skills,
but with missed
opportunities.
A very good level of
interpretation is
evidenced and
exhibits skills
pertaining to
inference and able to
make meaningful
assumptions on it.
Exhibits sound data
interpretation skill
and demonstrates
skills to make
meaningful
assumptions and
shows clarity in
differentiating facts
and assumptions
using evidence.
In addition to clearly
satisfying the
‘excellent criteria’ the
report demonstrates
the skills to interpret
and make
assumptions on data
that correlate both
micro and macro
aspects of the
economic variables.
Required
Information
shown / with
major errors.
Outstanding
(100 Marks)
Outstanding relevant
macro-economic
variables
/information/statistics
are present, with
contemporary
searches. Data
relevant to both local
and international
context is used to
address the tasks.
threshold
level.
3
Application
skillsinferring data
to address
the tasks and
appreciating
the role of
macroeconomics
30
Shows no
understanding
of the tasks,
and lacks
appreciation
of the role of
macroeconomics
4
Reportpresentationcoherence,
language
10
The report is
unorganized
to the point of
being virtually
unreadable.
Lacks
cohesion and
orderly flow.
Shows a
minimum
understanding
of the tasks
with lack of
clarity with
less scope of
application of
the conceptsno support
from the data
collected.
The
assignment
has
unacceptable
failings in
structuring
and / or
clarity of
written
expression.
The report is
difficult to
read due to
overwhelming
errors or
misspellings
Exhibits a
satisfactory
level of
understanding
of the given
tasks. Applies
the data
inferred to
make some
meaning
inferencing,
but with
errors. Able to
be aware of
the role of
macroeconomic
concepts
Exhibits a good level
of understanding of
the tasks, with
inference skills, that
leads to appreciating
of the role of macroeconomic variables
and its significance in
building a sustainable
economy, but with
missed opportunitiesscope to infer more
and in detail- can be
more critical and data
cross examination
amongst different
macro-variables are
missing parts of the
application. Shows
application relevance
to the local context.
Exhibits a very good
level of understanding
of the tasks, with
inference skills, that
leads to appreciating
of the role of macroeconomic variables
and its significance in
building a sustainable
economy in the local
context not
triangulating with the
international aspects.
Assumptions and
inferences are
meaningfully
supported with
data/statistics.
Exhibits excellent
level of understanding
of the tasks, with
inference skills, that
leads to appreciating
of the role of macroeconomic variables
and its significance in
building a sustainable
economy in the local
context and
international context
triangulating the two
to make more
meaningful inference.
In addition to clearly
satisfying the
requirements of
‘excellent criteria’ the
report demonstrates
the skills of a more
wholistic approach in
applying the data for
inference- where
there is clear evidence
of linking both the
micro and macro
aspects of the
economics.
Though
discussion of
the ideas is
clear, a
coherent flow
of thought is
not evident.
Evidence for a
coherent presentation
is evident but lacks
uniformity
throughout the essay.
The report is well
organized. There is
orderliness in the
structure. Coherence
is also evident but
there is still scope for
improvement.
The report is well
organized with a
cohesive discussion.
The structure of the
report is excellent.
The structure is
exemplary. Execution
is excellent.
Discussions are free of
grammar or writing
errors. A clear layout
augments the
presentation.
The report is
unorganized
but can be
read. Poor
flow of the
report
structure.
The report is
somewhat organized.
The flow is not
coherent and needs
improvement.
While the assignment
has some failings in
structuring and / or
clarity of written
expression, these do
A generally wellstructured and
expressed
assignment, that
communicates clearly.
Well executed. Few
grammar or writing
errors. Reads
An assignment whose
clear structure and
expression
significantly enhances
its argument.
Excellent overall
organization of the
report.
Reads easily. Is well
organized.
5
The
assignment
has failings in
structuring
and / or
clarity of
written
expression,
which impair
its capacity to
communicate.
not impair its capacity
to communicate.
easily. Is fairly well
organized.
More than occasional
errors or misspellings.
Frequent
compositional
errors or
misspellings,
but the report
can be read
5
References
5
The
references do
not clearly
comply with
the basic
requirements
of HARVARD
STYLE format.
The
references do
not clearly
comply with
the basic
requirements
of HARVARD
STYLE format.
The poster
shows some
compliance to
HARVARD
STYLE
referencing
but shows
many errors.
Sources used
show limited
relevance and
currency.
Very few
references
quoted.
Some sources
of information
are relevant
while others
are dated
The poster
demonstrates a basic
level of HARVARD
STYLE referencing, but
still contains major
deficiencies. No
sophistication is
evident i.e., Websites
do not follow Harvard
Referencing style.
Majority of the
sources are relevant
and current.
The poster
demonstrates a solid
understanding of the
basic elements of
HARVARD STYLE
formatting. In-text
citations if presented
at relevant areas will
lend more
appropriateness to
the report.
Sources used to
support the
discussions are
relevant and current.
The poster
demonstrates
excellent HARVARD
STYLE formatting
skills. In-text citations
are presented at
relevant areas.
Consistent use of
relevant and current
sources that enhance
the discussions.
Accurate use of
Harvard Referencing
style.
Student recognizes
the concept of
intellectual property,
can defend him /
herself if challenged,
and can properly
incorporate the ideas
/ published works of
others into their own
work building upon
them.
Skillful use of credible,
relevant and current
sources of
information that
augments quality of
discussion
6
7
ECONOMIC GROWTH AND INFLATION IN OMAN
MODULE TITLE: PRINCIPLES OF ECONOMICS
MODULE CODE: / POE BC 03-1
Economic Growth In Oman
Student Name:
Student Number:
Introduction
Oman, a country in the Middle East, has become a shining example of achieving a balance
between progress and inflation reduction. This is quite intriguing since these two indicators often
present economies’ trade-offs.
Omans’s economy has steadily grown, with its GDP expanding and diversifying. As per a
news report from Zawya, Oman is among the countries globally that have experienced economic
growth. The “Survey of Economic and Social Developments in the Arab Countries” report by the
United Nations Economic and Social Commission for Western Asia (ESCWA) confirms this trend
projecting a growth rate of 3.6 percent for 2023 and 3.5 percent for 2024. This growth can be
attributed to the following factors;
Diversification Efforts
Recognizing the risks associated with heavy reliance on oil revenues, Oman has taken
proactive steps toward diversifying its economy. Strategic investments in tourism, logistics,
manufacturing, and mining sectors have played a role in driving non-oil GDP growth (APNews.
2023). Per a news report on nationalnews.com, Oman Investment Authority has witnessed a surge
in assets reaching $46.6 billion in 2022. This growth can be attributed to Omans’s focus on
diversification, supported by oil prices and fiscal reforms. It’s encouraging to see the economy of
Oman thriving while inflation remains under control (Times of Oman, 2023).
According to an article published by AP news.com, Oman has taken a step towards
diversifying its economy by introducing the Oman Future Fund. This $5 billion public investment
fund aims to reduce Omans’s reliance on oil revenues and promote reform in the Gulf Arab nation.
Despite being a country in the Gulf region, Oman does not possess vast oil reserves like Saudi
Arabia. The main goal of this fund is to stimulate activity in the private sector aligning with Oman
Vision 2040 plans for sustained growth and diversification. Its approval by Sultan Haitham bin
Tariq Al Said marks a milestone towards achieving these objectives, starting with a capital of
approximately $5.2 billion. It is worth noting that Oman already has a wealth fund called the Oman
Investment Authority, which invests oil revenues into international assets. The introduction of this
fund highlights Oman’s commitment to transformation. It showcases its regional diplomatic role
and aspirations for building a more resilient and diverse economy for the future.
Regarding tourism development Oman’s rich cultural heritage, natural beauty, and
historical sites have positioned it as a tourist destination. Significant investments have been made
in tourism infrastructure and marketing campaigns leading to growth in tourism activities that
create employment opportunities while boosting the services sector. According to an article in the
Economy and Business magazine by Oman Times (2023) and PR NewsWear (2023) Oman is set
to receive backing from the tourism industry to develop a diversified economy and reduce
dependency on oil and gas revenues.
Fitch Economic Research has recently shown an outlook on the recovery of Oman’s tourism
industry in 2023, with expectations of growth in the medium term. Moreover, BMI, a subsidiary
of Fitch, published a report that revealed Omans’s tourism sector exceeded expectations year and
has promising forecasts for the current year. According to BMIs projections, Oman is anticipated
to welcome 3.5 million tourists this year, which represents a growth of 20.8% compared to the
previous year (Zawya, 2023). Looking ahead to the medium-term period from 2023 to 2027, there
is a projected growth rate of 7.4%. This growth can be attributed to the popularity of leisure and
business tourism efforts to foster recovery and increased investments in the tourism industry due
to rising oil prices.
Infrastructure Investment
The government of Oman is focused on diversifying its economy from dependence on the oil &
gas sector through its “Omans Vision 2040” program. As part of this initiative, priority has been
given to infrastructure development encompassing transportation networks, ports, and industrial
zones. This not attracts direct investment but also enhances domestic connectivity and trade
efficiency (Atalayar, 2023). According to PR NewsWire reports, the Omani government is actively
investing in infrastructure projects across the country, such as expanding airports, railway lines,
roadways, and highways. The anticipated increase in infrastructure development initiatives is set
to fuel the expansion of the construction equipment market in Oman throughout the projected
timeframe.
INFLATION
The moderate inflation rate in Oman reflects the central bank’s adherence to macroeconomic
principles. According to Fitch Solutions. (2023) and Arab News (2023) the use of prudent
monetary policy, including interest rate adjustment and monetary policy, addresses the important
role of monetary policy in influencing inflation. Oman has successfully implemented inflation
targeting, an approach based on macroeconomic theory reflecting the belief that stable prices are
essential for economic growth and consumer confidence. Honor the country in controlling inflation
to ensure price stability for consumers. This decline in inflation can be attributed to various factors
in Oman:
Prudent monetary policy
The Central Bank of Oman has maintained a prudent monetary policy, managing money
supply and interest rates closely to contain inflation. The Central Bank of Oman’s approach to the
fixed peg regime, as highlighted in the article “Fixed Peg Regime on Oman Soaring Global
Inflation: CBO,” emerged as a weak shield against globalization price increases. This phenomenon
is especially noticeable in 2022, who is the nominal anchor.” This is declared. The aid underscores
its role in ensuring financial stability and the country’s ongoing war against resources inflationary
pressures (AGSIW, 2023). Oman’s success in curbing inflation through its stable peg regime
includes the relationship between macroeconomic perspectives, exchange rate policy, and
international economic conditions (Muscat Daily, 2022)
The state’s accounting method protects prices and contributes to the broader narrative of
economic resilience in a rapidly evolving global landscape. By monitoring monetary conditions at
fixed pegs, the Central Bank of Oman understands the importance of prudent monetary policy in
preserving financial stability (Reuters, 2023). This article is consistent with a broader view of
exchange rate policy, emphasizing the link between global economic trends and countries’
strategies to hedge against external shocks.
Establishing fuel and oil price ceilings
According to Zawya (2022), the government of Oman has creatively implemented several
measures to keep the country’s inflation rate at an acceptable level, around 3.1% from 2% in
January 2022 and May 2023. This number is much less than in many countries, including
developed ones. Zawya, (2023) supports this claim by citing that One of the most important
measures used by Oman to reduce inflation was the set of the fixed monthly fuel price. These
policies ensure that fuel prices do not rise above a certain point, contributing to price stability and
preventing undue price pressures from energy costs. The success of growth from these sources
stems from Oman’s fiscally stable budget coming to a strong start and plays an important role.
Moreover, the government’s proactive approach in times of crisis, such as direct food incentives,
has helped to maintain acceptable inflation through the impact of supply chains the problems have
been reduced (Times of Oman, 2023). This approach is consistent with macroeconomic principles,
as governments in the GCC prioritize stabilizing commodity prices to protect consumer welfare
and economic resilience.
The inflation rate of the Omani economy has shown resilience in contrast to global inflation, which
is driven by supply disruption and international crisis Mechanisms of government surveillance for
prices to be accepted in Oman under global turmoil is a testament to its well-structured monetary
policy and strategic planning. Increasing the price of petrol and easing the direct food supply
exemplify the government’s commitment to preserving price stability and consumer welfare
(Oman times, 2023). This approach is compatible with the broader principles of price upward
strategy and contributes to Oman’s economic resilience in the face of global challenges.
Oman’s policies are in line with international economic trends and macroeconomic projections.
Adopting economic reforms aligns with the global trend toward economic integration and
sustainable national economies. Promoting foreign investment is consistent with the principles of
globalization, where countries seek to attract world capital and know-how Oman’s policy of
targeting inflation reflects practices by many economies aimed at surveillance inflation in a certain
way to ensure the stability of the macroeconomy. Domestic developments and international
economic conditions influence Oman’s challenges and future outlook (Zawya, 2023). The concept
of external vulnerability is more relevant, as Oman’s open microeconomy is sensitive to global
fluctuations, especially in terms of oil prices moving in the right direction as it grapples with
challenges such as human capital development and sustained growth exist regularly in line with
the global trend towards a skill-dominated economy The principle of long-term planning comes to
the fore.
Conclusion
In a macroeconomic and international economic environment, Oman’s simultaneous
economic growth and deflationary growth is not only a regional success but also a complement of
economic principles and practices -It emphasizes the importance of a comprehensive approach
needs to be emphasized. As Oman continues its journey, it stands as a testament to the power of
informed policy decisions to shape economic outcomes in line with macroeconomic fundamentals
and global economic trends. The journey provides valuable lessons for other countries navigating
complex economic growth and recovery in a dynamic international economic environment.
E-Journal economic growth:
Source: AP NEWS
Date: May 31, 2023
Link:
https://apnews.com/article/oman-economy-investment-diversification-
42f4542b8db41b1276c1cc13cafdba33
Relevance of the article:
The article relates to the perspective of
economic growth and inflation as it focuses on
Oman’s plans to launch a $5 billion investment
fund aimed at diversifying, reducing its
economy and reliance on oil to boost economic
activity Consequently, inflation can also be
affected.
Source: Atalayar
th
Date: 17 July 2023
Link:
https://www.atalayar.com/en/articulo/economy-and-
Source: Finance Yahoo/PR NewsWire
Date: June, 2023
Link: https://finance.yahoo.com/news/constructionequipment-market-booming-oman-155000727.html
business/omans-tourism-sector-boosted-bydiversification-of-theeconomy/20230717155038188290.html
The article is relevant as it discusses strategies to
develop Oman’s tourism sector for economic
diversification, which could lead to growth. What
matters is how these efforts can help reduce
dependence on oil and gas, while increased tourism
demand can affect prices by increasing consumer
spending
The article’s significance lies in how the construction
equipment market’s growth reflects Oman’s push to
diversify its economy, attract foreign investment, and
stimulate economic activity through infrastructure
and real estate projects. This has implications for job
creation, economic expansion, and the realization of
Oman’s long-term development goals
Source: The Arab Gulf state institute in Washington
Source: Zawya
Date: June 13, 2023 Link: https://agsiw.org/oman-
Date: August, 16, 2023
gets-economic-policymaking-right-for-now/
Link:
https://www.zawya.com/en/economy/gcc/omanset-to-post-highest-gdp-growth-at-43-world-banky8lpsc6s
The importance of the article is to provide a
comprehensive view of Oman’s economic growth
and challenges. It highlights Oman’s positive
reforms, fiscal discipline and growth indicators, but
also reports on the constraints the country faces in
terms of size, infrastructure and fierce regional
competition The article provides insights into the
way Oman use it to carefully measure in terms of
economic growth
Source: Zawya
th
The significance of the article is to provide insights
into Oman’s economic outlook relative to other GCC
member states and the MENA region. It also
highlights Oman’s energy resilience and favorable
economic
conditions,
including
consistent
hydrocarbon production and relatively contained
inflation, contributing to its projected GDP growth
These issues is needed to understand Oman’s
economic position and role in the broader regional
context.
Source: The Nation News
Date: 19 March 2023
Date: November 18th 2022
Link:
https://www.zawya.com/en/economy/gcc/omanwitnessing-remarkable-economic-growthh7og84u8
Link:
https://www.thenationalnews.com/business/e
conomy/2022/11/18/oman-launches-fiscalstability-programme-to-boost-economicgrowth/
The article’s significance lies in providing
evidence of Oman’s economic recovery and
growth, attributing it to factors such as high oil
and gas prices, domestic product manufacture,
and expansion in non-oil sectors. This information
is important for understanding Oman’s economic
trajectory and its positive outlook, which can
impact investor confidence, policy decisions, and
overall economic sentiment in the region.
The article’s significance lies in highlighting
Oman’s proactive measures to enhance its
economic stability and growth. The launch
of the fiscal stability program, chaired by
Sultan Haitham, reflects the government’s
commitment to diversifying sectors,
stimulating investments, and sustaining
development programs. This move is crucial
for bolstering investor confidence, driving
economic growth, and ensuring long-term
financial sustainability in Oman
Source: Times of Oman
Date: 16th July 2023
Link: https://timesofoman.com/article/133529-international-report-highlights-omans-tourism-sector-growth
Relevance of the article:
The importance of the article is to highlight the
critical importance of the tourism sector in
Oman’s burgeoning economic endeavours. The
projected increase in tourist arrivals, supported
by government policies and investments in
infrastructure, could boost economic growth,
create jobs and help achieve Oman’s Vision
2040 goals
Source: Energy Portal EU news
th
Date: 14 August 2023
Link: https://www.energyportal.eu/news/hotelrevenues-in-oman-up-32/157326/
Source: The National News.com
Date: 16th August 2023
Link:
https://www.thenationalnews.com/business/economy/2
023/06/20/omans-economy-on-strong-footing-amiddiversification-push-and-higher-oil-prices-imf-says/
References
Significance:
The significance of the news is that it
Economic Growth
signals a strong revival of Oman’s tourism sector.
The article describes
Oman’s strong
economicat:
growth
APNews.
economy
investment
diversification.
Available
Significant
increases(2023)
in income Oman
and hotel occupancy
amid diversification efforts, favorable oil prices and
https://apnews.com/article/oman-economy-investment-diversificationmean that it has
become increasingly popular with
economic reforms.
42f4542b8db41b1276c1cc13cafdba33
[Accessed:
14th August 2023]
domestic and international tourists. Positive trends
The importance of the article is to highlight Oman’s
Atalayar.
(2023)destinations,
The diversification
of the
boosted (2023)
tourismGDP
sector.
in various
tourist
especially
a economy
sound economic
strategy.Oman’s
The country’s
growth,
surplus and positive economic indicators point to the
Available
at: andhttps://www.atalayar.com/en/articulo/economy-and-business/omanssignificant increase
in European
Asian visitors
success of fiscal reforms and smart fiscal policies This
tourism-sector-boosted-by-diversification-of-the-economy/20230717155038188290.html
indicate that Oman’s
tourism efforts are improving
stage driven by efforts such as Oman Vision 2040 to
th
[Accessed:
15
August]
develop non-hydrocarbon economies growth,
These developments have economic implications,
performance, long-term performance and expected
which can contribute to job creation, economic
growth going forward
growth and if Oman achieves its goals it’s about
tourism
E-Journal Inflation :
Source: Zawya.Com
Link:
Date: 25th September 2022
https://www.zawya.com/en/economy/gcc/omans-inflation-rate-at-acceptable-levels-due-to-strong-
fundamentals-bqw5o84e
The article is important in highlighting Oman’s effective
management of inflation despite global disruptions caused
by epidemics and international crises Government
measures including capping monthly fuel prices and
encouraging direct supply of food helped keep inflation at
acceptable levels maintain economic stability , this is
essential to ensure affordability for citizens, and to foster
consumer confidence in Oman’s economy.
Source: Arab News
Date: August 16th 2023
Link:
Source: Fitch Solutions.com
Date:28th March 2023
economy
Link: https://www.fitchsolutions.com/countryrisk/omans-tightening-cycle-nearing-endinflation-below-trend-2023-28-03-2023
The importance of the article is to provide an update
on Oman inflation, important economic indicators of
inflation across the country Data helps policymakers,
businesses and individuals to understand the current
economic situation , make appropriate investment
decisions and monitor the effect of prices on
purchasing power changes reflect economic activity
The article discusses Oman’s monetary policy
and inflation forecast for 2023, highlighting the
potentially tight cycle of the Central Bank of
Oman (CBO) and its impact on the country’s
economy on the main. The forecasted increase in
the number of plans and the expected decline in
inflation highlight the central bank’s efforts to
maintain price stability in response to economic
conditions.
https://www.arabnews.com/node/2350456/business-
Source: Reuters
Source: Muscat Daily
Date: June 19, 2023 Link:
Date: 9th August 2023
https://www.nasdaq.com/articles/imf-says-omans-
Link:
https://www.muscatdaily.com/2022/08/09/governmentmeasures-insulate-oman-from-rising-inflation/
economy-continues-to-grow-inflation-contained-atlow-levels
The focus of the article is the presentation of key
economic indicators and forecasts for the Omani
economy. The reported growth rate of 4.3% in 2022
is indicative of the country’s economic growth, and
the IMF’s projection of a decline to 1.3% in 2023 and
a recovery to 2.7% in 2024 is one to watch way to
pass stability. The positive near- and medium-term
balance of risks, as articulated by the IMF, provides
insight into Oman’s economic stability and potential
challenges and opportunities ahead. Overall, the
article presents a snapshot of Oman’s economic
situation and its future prospects, as assessed by a
reputable international organization
Source: Muscat Daily
th
The article discusses how Oman and other GCC
countries have been able to mitigate the impact of global
inflation through government policies such as importing
different foods, pricing essential commodities and so on
These practices have improved emerging markets. Their
economies have much lower inflation rates than
economies. Things like social security programs,
financial incentives and support for businesses. The data
highlights