Oman's minister of finance forecast on Saturday GDP in real terms for 2010 at 6.1 per cent, and inflation at 3.5 per cent, without giving comparative figures for the previous year.

Ahmad Mekki, who is also the minister of national economy, told reporters that Oman's total debt as of the end of 2009 stood at OR722 million ($1.88 billion), with domestic debt accounting for OR252 million of the total figure.

He also said there were no plans to ditch Oman's currency peg to the dollar or to join the Gulf Co-Operation Council Monetary Union at any point in the future.

On December 13 Mekki said he expected the country's economy to have grown by 1-2 per cent in 2009, hit by lower oil prices in the second quarter.

The global economic crisis slashed income for Gulf Arab oil producing nations. Non-Opec Oman was less affected than fellow oil exporters in the region as it was not forced to cut output.

A senior ministry official said in October that the sultanate's economy would grow by 2.5 per cent in 2009 in nominal terms due to better performance from its non-oil sectors.

The International Monetary Fund sees GDP growth of 4.1 per cent this year, well below 7.8 per cent in 2008. - Reuters