World Bank report lauds Oman's strong economic performance
Muscat – The World Bank's 2024 Gulf Economic Update report highlighted that the Sultanate of Oman has achieved significant positive fiscal and economic results despite regional and global challenges.
The report affirmed that Oman's economic performance reflects the success of its fiscal and economic policies amid global changes, aligning with the priorities of economic diversification and financial sustainability under 'Oman Vision 2040'.
It noted that Oman has recorded fiscal surpluses in recent years due to government measures to improve financial performance, as well as a current account surplus driven by growth in non-oil exports and services exports, strengthening its external position.
The report praised Oman's reduction of public debt from 68% to 35% of GDP, demonstrating its commitment to fiscal sustainability, along with its credit rating upgrade to an investment-grade level (BBB-) by S&P in 2024.
Additionally, Oman maintained low inflation at 0.6% in 2024, compared to the GCC average of 2%. Looking ahead, the report projected continued current account surpluses and growth in non-oil exports, supported by fiscal discipline and economic diversification efforts.
For the broader GCC, the report forecasted economic growth of 3.2% in 2025 and 4.5% in 2026, with the oil sector expected to grow by 5.7% and the non-oil sector by 4.9% in the medium term, while inflation remains low.
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Now part of Re:wild, Leonardo DiCaprio's conservation NGO, the initiative highlights global efforts to protect pollinators and biodiversity. It was a celebration of creativity, sustainability, and tech-driven storytelling. Full Days Agenda Time Agenda Item Session Title Speakers 08:00 09:00 ARRIVAL OF GUESTS 09:00 09:10 Intro & Welcome 'Welcome to Supercharged' Faheem Ahamed, Group CMO, G42 09:10 10:00 Keynote 'G42 Journey and Future of Industry ' Peng Xiao, Group CEO, G42 10:00 10:30 Fireside Chat ' The Intelligence Grid: Lives Lifted Everywhere' Peng Xiao, Group CEO, G42, Brad Smith, President and Vice Chairman, Microsoft 10:35 11:30 BREAK 11:30 12:00 Panel 'The AI Energy Nexus: Long Live Electric Dreams' Moderated by Magdalena Konig, General Counsel, AIQ Hassan Alnaqbi, CEO, Khazna Chris Midgley, SVP, Energy Intelligence & Outlooks, ADNOC Andy Hock, Chief Product & Strategy Officer, Cerebras Systems 12:00 12:05 Opening Remarks 'The Intelligence to Live Longer, Better' H.E. Mansoor Ibrahim Al Mansoori, Chairman, Department of Health - Abu Dhabi 12:05 12:45 Panel 'The Leap to Longevity: Forever Healthy' Moderated by Amandeep Bhangu, Presenter & Moderator Voice Media London H.E. Ibrahim Al Jallaf, Executive Director of Digital Health, Department of Health - Abu Dhabi Dr. Tiffany Vora, Expert & Singularity Fellow in Biotechnology, Singularity University and Non-resident Senior Fellow at the GeoTech Center for the Atlantic Council. PhD. Georges-Pascal Haber, CEO, Cleveland Clinic Abu Dhabi Dimitris Moulavasilis, CEO, M42 12:45 13:15 Panel 'Intelligence From Space: The New Frontiers on Earth' Moderated by Talal M. Al Kaissi, EVP, Chief Government Affairs & Partnerships Officer - Core42 & Group Chief Global Affairs Officer, G42 Karim Sabbagh, MD, Space42 H.E. Eng. Salem Butti Al Qubaisi, Director General, UAE Space Agency Greg Wyler, Founder, CEO & Chief Architect, E-Space 13:15 15:05 LUNCH BREAK 15:05 15:45 Panel 'AI-Native Nations: Smarter Lives Unlocked' Moderated by Brian Lott, Group Chief Communications Officer, Mubadala Opening Remarks by H.E. Dr. Mohamed Hamad Al Kuwaiti, Head of the UAE Cybersecurity Council Thomas Pramotedham, CEO, Presight Kiril Evtimov, Group CTO, G42 & CEO, Core 42 Rod Solaimani, Middle East Policy & Partnerships Lead, OpenAI 15:45 16:25 Panel 'Responsible Intelligence: Igniting The Future' Moderated Faheem Ahamed, Group CMO, G42 H.E. Ahmed Al Shamsi, CEO, Emirates Foundation Andrew Jackson, Group Chief AI Officer Baroness Joanna Shields, Founder and CEO of Precognition Natasha Crampton, VP, Chief Responsible AI Officer, Microsoft 16:25 16:30 Bee:Wild documentary presentation Faheem Ahamed 16:30 17:30 BREAK 17:30 18:00 Keynote 'The AI-Physical AI Revolution: More Than Humans' Alex Kipman, CEO, Analog 18:00 18:30 Fireside Chat 'AI First Organizations: Augmented Thought Leadership' Maymee Kurian, Group Chief Human Capital & Culture Officer, G42 Josh Bersin, Founder and CEO, The Josh Bersin Company 18:30 19:00 Closing Remarks Peng Xiao, Group CEO, G42 Sam Altman, Founder and CEO, OpenAI 19:00 21:00 DINNER Across breakfast, lunch, dinner, and everything in between, Supercharged guests will experience the Global Food Grid - a curated culinary journey celebrating the richness of global traditions. Guests can choose between four immersive dining paths, each inspired by a different region of the world: the Middle East and India, the Americas, Europe, and Asia. Performance by acclaimed composer David Chesky and his Jazz Trio band 21:00 00:00 EVENING ENTERTAINMENT 9:00 PM - 9:45 PM Raphy J, an Amsterdam-born open format DJ and music producer, will bring his global sound to the stage. With a career spanning London, New York, LA, and now Dubai, Raphy J is known for his genre-spanning performances—seamlessly mixing Pop, R&B, Afrobeats, House, Latin, Arabic, and Hindi music. His sets have lit up stages at venues like Expo 2020, Time Out Market, and the Museum of the Future. ABOUT G42 G42 is a technology holding group and a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities today. Media contact TrailRunner International – G42@
