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Oman confronts its economic challenges
Critical to Sultan Haitham Bin Tariq Bin Taimur Al-Said’s success will be his ability to switch emphasis away from oil and gas to develop a more broad-based economy which can meet high social and welfare spending needs, and sustainably employ more young Omanis. Haitham presides over an economy that in recent years has faltered in delivering on an ambitious programme to balance the books, reduce national debt – which had been rising to dangerous levels – and encourage private enterprise.
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