Oman seeks to turn wartime windfall into lasting economic gains

Detailed summary

Oman's economy is forecast to grow 4.1% this year, while other Gulf economies contract.

Oman, a Middle Eastern sultanate that rarely draws much attention, is scoring billions of dollars in economic growth and emerging as a big regional winner from the Iran war.

As conflict continues to roil the region, a combination of geography, diplomacy and economic policy have spared Oman the worst of the war and allowed it to play a more central role in the region.

The International Monetary Fund projects that Oman’s economy will grow 4.1% this year, adjusted for inflation, even as the other economies in the six-member Gulf Cooperation Council contract.

Now, the nation of 5.4 million – which has largely escaped Iranian attacks that have upended much of the region – is seeking to convert its gains into a long-term windfall.

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