Oil price rise sees Omani diversification programme grinding to a halt

Oman’s faltering drive towards diversification and a greater role for the private sector has come to a grinding halt as oil prices have held steady at relatively high levels. The more comfortable macroeconomic situation appears to have removed fiscal pressures that were pushing the government to implement a more vibrant and inclusive reform programme. Critics complain that reforms have been silently but strongly opposed by entrenched business interests who want to maintain their hold over entrepreneurial opportunities.