Balance of payment data was reported at -878.000 OMR (Millions) in 2020. This records a decrease from the previous number of -539.000 (Millions) OMR for 2019. Balance of payment data is updated yearly, averaging 333.000 (Millions) from December 1996 to 2020, with 25 observations. The data reached an all-time of high of 4,725.000 (Millions) OMR in 2013 and record low of -3,615.000 (Millions) OMR in 2016. Based on the above case study, what suggestions would you like to give to the government to reduce the gap of balance of payment?

Balance of payment data was reported at -878.000 OMR (Millions) in 2020. This records a decrease from the previous number of -539.000 (Millions) OMR for 2019. Balance of payment data is updated yearly, averaging 333.000 (Millions) from December 1996 to 2020, with 25 observations. The data reached an all-time of high of 4,725.000 (Millions) OMR in 2013 and record low of -3,615.000 (Millions) OMR in 2016. Based on the above case study, what suggestions would you like to give to the government to reduce the gap of balance of payment?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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