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OMAN: STRUCTURAL CHANGES AND ECONOMIC GROWTH
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OMAN: STRUCTURAL CHANGES AND ECONOMIC GROWTH
Annotation
PII
S0321-50750000591-6-
Publication type
Article
Status
Published
Authors
V. Rusakovich 
Edition
Issue №3
Pages
48-55
Abstract
The article analyzes the peculiarities of socio-economic development of Oman and the structural transformation of the national economy in 2006-2016. Having significant oil and gas reserves, extracting huge volumes of raw materials and exporting it to the world market, Oman and other Gulf countries (GCC), which traditionally are included into the system of international division of labor mainly as the leading suppliers of hydrocarbons. However, in conditions of instability in the world oil market for the GCC States becoming more and more relevant the need to diversify national economies through capacity the non-oil sectors, industries and activities. The author focuses on the sectoral, regional, institutional and infrastructural reforms, while maintaining a leading role in the national economy, exports and government revenues in the hydrocarbons segment. The positive effect of structural change on the overall dynamics and foreign trade (including commodity and geographic diversification of exports). The author identified the main priorities of the structural policy of the Sultanate of Oman up to 2020 and the results of this process. In the part of the Russian-Omani trade and economic relations it is noted that they are to present an unbalanced and uneven, remaining, however, in the author's opinion, is quite promising from the point of view of diversification of the economy of Oman.
Keywords
GCC, Oman, structural transformation, economic diversification, economic structure, oil, processing industry,services, investments
Date of publication
01.03.2018
Number of purchasers
8
Views
1458
Readers community rating
0.0 (0 votes)
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S0321-50750000591-6-1 Дата внесения правок в статью - 23.10.2020
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