Apr. EN 2019

8 Mazaya Monthly Real Estate Report - Week 2 - April 2019 In conclusion, Al Mazaya believes that the constructive decisions taken by the region’s governments over the past period are set to achieve best possible results and to mitigate the impact of the accumulated pressure on the performance of the overall economy. According to the report, this is a real positive indication of the ability of the current mechanisms and tools to stimulate growth, taking into account that the stimulus plans and strategies adopted to increase liquidity levels at the financial, investment and service sectors are moving at a good pace until now. The total value of loans granted to the private sector increased by 4.8% to OMR 22.1 billion at the end of January 2019. Retail sectors, valued at OMR10.3 billion, are expected to continue their growth at 9% by 2023. TheAlMazayareportstatedthatMoody's downgrade of the Omani economy will increase the cost of borrowing as well as hinder investment attraction strategies amid high unemployment rates and government plans to address the challenging problem. Oman's economic performance signs during the first quarter are mixed, with the domestic economy set to face many challenges until the end of this year, despite ongoing government efforts and expansion of economic projects to mitigate the impact of the growing public debt which exceed 50% of GDP and are expected to rise to 60% by 2021, compared to 40.5% in 2017.