The budget of 2021 for the Sultanate of Oman is a contraction compared to the last year, as the level of government revenues decreased from 10.7 billion Omani Rials to 8.6 billion. On the other hand, the costs will decrease from 13.2 billion in 2020 to 10.9 billion Omani Rials in the new year.
For this reason, a more difficult economic conditions in 2021 compared to 2020 is predictable, as the amounts of global borrowing to cover the deficit accumulated over the past few years on the macroeconomic structure.
A short-term strategy would be more encouragements toward foreign investment. Therefore, it’s vital for the country to make it more appealing for investors to consider Oman as their next destination.