(MENAFN) Oman's gross domestic product (GDP) at current prices dropped by 14.2 percent in the three months to March as opposed to a growth of 2.7 percent registered in last year's cited period.
The non-petroleum division recorded an increase of 4.1 percent in the first quarter, however, due to the lower oil prices; the petroleum sector has seen a severe decline of 36.8 percent.
Meanwhile, commercial banks' total investments in securities appreciated by 24.4 percent to USD8.5 billion at the end of July, up from USD6.7 billion, a year ago, based on the latest data.
The cited surge took place regardless to the harsh drop in bank's investments in Central Bank of Oman certificates of deposit (CDs), which fell from USD3.3 billion in July 2014 to USD880 million in last July.
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