- Official statistics show a fiscal surplus of 1.5% of GDP in Jan-Apr 2020.
- However, this is misleading given one-off transfers and temporary spending cuts.
- The underlying fiscal balance is more likely a deficit of at least 6% of GDP.
- However, there are encouraging signs of spending cuts in some areas such as defence.
- Oman will need to show strong progress in the next few months to win over donors and markets.
Read the full report here.
