Oman’s government reforms expected to drive 3% economic growth in 2025-2026

Posted on December 12, 2024   |  

Oman’s economy is projected to expand by 3% on average in 2025-2026, driven by government reforms and increased investment in non-oil sectors.

Oman’s GDP growth is supported by rising oil output alongside structural reforms and investments in non-oil activities.

The GCC region is expected to see subdued economic growth of 1.6% in 2024, with a stronger recovery projected at 4.2% in 2025-2026.

The non-oil sector in the GCC is projected to grow by 3.7%, reflecting ongoing diversification efforts and reforms.

Inflation in the GCC is expected to remain stable at 2.1% in 2024, supported by subsidies, fuel price controls, and currency pegs, although housing pressures persist.

Saudi Arabia’s GDP is forecasted to grow by 1.1% in 2024, boosted by a 4.6% expansion in the non-oil sector.

In the UAE, GDP is expected to rise by 3.3% in 2024, supported by a 4.1% increase in the non-oil sector.

Kuwait’s economy is projected to contract by 1% in 2024 but is expected to recover to 2.6% growth in 2025-2026, driven by higher oil output and infrastructure projects.