2014-04-24 09:51:02 - Oman Infrastructure Report Q3 2013 - a new market research report on companiesandmarkets.com
The Omani construction and infrastructure sectors have defied global recession trends thanks to backing from oil-fuelled state coffers. The Oman Central Bank December 2012 report shows that over H112, construction industry value was OMR633.4mn. Consequently, we have adjusted our growth estimates and forecasts to bring it more in line with the industry´s development. We estimate real growth of 11.9% year-on-year for 2012, with industry value reaching OMR1.5bn. For 2013, we forecast growth of 8.4%, with construction industry value of OMR1.7bn.
Cement production figures are also rising, with growth mostly driven by solid economic performance and an expanding tourism sector. Oman´s near-term economic outlook remains broadly positive, with heavy government spending stimulating an uptick in activity across the economy. However, with hydrocarbon
revenues likely to have reached their peak, while expenditure is set to rise in view of the draft 2013 budget´s expansionary fiscal outlook, our Country Risk team sees the surplus narrowing to 4.0% of GDP in 2013.
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