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Oman’s 2012 outlook positive despite risks – says c. bank

The Omani central bank has said the country's economy seems to have weathered the first quarter's global slowdown quite well and its 2012 outlook remains positive despite external risks, Reuters has reported. "The growth momentum witnessed in 2011 appears to have sustained in the first quarter of 2012 notwithstanding deteriorating global macroeconomic conditions, arising mainly due to (the) sovereign debt crisis in Europe," said the bank's 2011 annual report. "The overall outlook for Oman remains positive in 2012 despite heightened downside risks to global recovery."