Oman is on pace to see its deficit fall to just $4.4bn (5.7% of GDP) for 2019 from $6.9bn (OR2.65bn) for 2018. Given Muscat’s financial troubles (MEES, 8 March) and this year’s absence of GDP growth (precisely zero as per the IMF’s latest forecast), the near-40% fall in the country’s deficit to what would be the lowest figure since 2014 offers a rare piece of good news as assessments of Oman’s long-term economic health continue to sour.

Of course, the second...