(MENAFN) High oil prices contributed to the Omani economy giving it a push forward along with governmental plans aim growing economy, time of Oman reported.
Inflation rates remained under control at 2.1% in a pleasant drop from 3.3% recorded in Q1 2012. Gross domestic progress grew by 11.6% in 2012.
Total assets of commercial banks increased by 9.5 per cent to USD56.7 billion in May 2013. Of the total assets, credit disbursements accounted for 66% and increased by 6.2 per cent over the year to USD38.8 billion as of the end of May 2013. While credit to the Government dropped by 16.9%, credit to the private sector and public projects went up by 6.3% and 11.1%, separately.
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