Oman’s construction sector to fall 5.8% in 2021, report says ...United Arab Emirates

Oman’s construction industry may have contracted by 10.3% this year due to the effects of the Covid-19 pandemic and other factors, and will also feel the brunt of harsh fiscal consolidation going ahead in the short term, with construction output expected to fall by 5.8%. A report by the data and analytics company GlobalData added that the sharp fall in 2020 is also due to other factors coming together, such as low oil prices and the impact of sovereign credit rating downgrades. Further compounding the downside risks to the outlook for the industry, the Omani government has had to rationalise spending, given its weak fiscal position. Public sector spending cuts will be the government’s priori

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Last updated : 08 Dec 2020 clock 11:16 AM

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Oman’s construction sector to fall 5.8% in 2021, report says ...United Arab Emirates

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