Dubai – Mubasher: The International Monetary Fund expects the gross domestic product of Sultanate of Oman to grow by 4.6% in 2015, compared with 2.9% in 2014, then decline to 3.1% in 2016.

In its ‘Regional Economic Outlook’ report issued Tuesday, the fund added that the country’s inflation will likely remain at 1.0% in 2015 and rise to 2.6% in 2016.

The IMF also expects continued modest recovery in MENAP region, despite the slump in oil prices, in addition to regional conflicts and uncertainty about shifts in Arab Spring countries.

The fund also forecasts oil prices to reach $58 per barrel in 2015, then rise gradually to $74 pb by 2020.