Central Bank of Oman - Annual Report 2004

According to the Central Bank of Oman's Annual Report 2004, the macroeconomic environment of Oman in 2004 was characterized by impressive economic growth, low inflation, financial stability, and most importantly, steady progress towards diversification of the economy.

"While overall nominal GDP has been estimated to have grown by 14.4 per cent, non-petroleum activities also expanded by an impressive rate of 11.9 per cent. Despite the continued slide in annual oil production since 2001, high oil

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