Following Oman’s highly successful post-pandemic economic recovery, the International Monetary Fund projects “higher growth over the medium term.”
This optimistic outlook is owed to several factors: soaring oil prices, continued fiscal consolidation, and low government debt. Moreover, Fitch Ratings reaffirmed Oman’s credit rating as ‘Positive,’ citing the impressive turnaround of Oman’s fiscal deficit into a surplus of 3.4% of its GDP over the past year.
Additionally, the reduction of government debt as a percentage of GDP from 61% at the end of 2021 to 40% further solidifies the positive trajectory.
