Oman’s domestic liquidity expands by RO 3 billion
Published: 02:12 PM,Dec 08,2024 | EDITED : 06:12 PM,Dec 08,2024
Oman’s domestic liquidity expands by RO 3 billion
MUSCAT: Oman’s domestic liquidity surged by nearly RO 3 billion, reaching RO 24.692 billion by the end of September 2024, reflecting a 13.9 per cent increase from the same period last year, according to preliminary data from the National Center for Statistics and Information (NCSI).
Despite the liquidity growth, the total issued currency fell by 4.5 per cent to RO 1.545 billion from RO 1.617 billion a year earlier. Narrow money supply (M1), which includes currency in circulation and demand deposits, recorded a slight increase of 0.7 per cent, reaching RO 5.739 billion.
Meanwhile, quasi-money, comprising savings deposits, time deposits, and foreign currency deposits, climbed by 18.2 per cent to RO 18.953 billion. This sharp rise underscores stronger banking sector performance amid economic growth and higher oil revenues.
The expansion in liquidity aligns with Oman’s broader economic recovery efforts, supported by fiscal reforms and ongoing investment in infrastructure and strategic sectors. — ONA
Despite the liquidity growth, the total issued currency fell by 4.5 per cent to RO 1.545 billion from RO 1.617 billion a year earlier. Narrow money supply (M1), which includes currency in circulation and demand deposits, recorded a slight increase of 0.7 per cent, reaching RO 5.739 billion.
Meanwhile, quasi-money, comprising savings deposits, time deposits, and foreign currency deposits, climbed by 18.2 per cent to RO 18.953 billion. This sharp rise underscores stronger banking sector performance amid economic growth and higher oil revenues.
The expansion in liquidity aligns with Oman’s broader economic recovery efforts, supported by fiscal reforms and ongoing investment in infrastructure and strategic sectors. — ONA