Oman GDP grows by 22.7% for second year in row

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The Central Bank of Oman's 2011 annual report reveals GDP grew by 22.7% for the second consecutive year.

The economy's growth was attributed to sustained domestic demand and the recovery of crude oil prices in the international markets.

Omani crude oil was sold for an average price of $103 per barrel in 2011 – a 34.5% increase from 2010 – and caused a significant improvement in the country's overall fiscal balance. It finished with a surplus of 1.75 billion rial ($4.55 billion) at the end of

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