Oxford Economic Country Briefings, April 5th, 2007
Highlights and Key Issues
* Economic performance has been sluggish in recent years because of repairs and upgrades to oil and gas installations. But growth accelerated to about 3.8% last year as rising oil revenues helped the non-oil economy to expand by 4.5%. Despite the restoration of oil capacity, growth is forecast to slow to around 2.5% this year and next as the impact of high energy revenues on the non-oil sector begins to fade. Inflation should remain low at around 1%.
* Over the medium term, economic activity will continue to be driven by oil and gas and the government sector, with c...
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