Muscat: The Standard & Poor’s has affirmed Oman’s Credit Rating at “BBB-” with a Stable Outlook for attractive investment environment.
The rating was affirmed as a result of continued improvement in the state's fiscal performance, ongoing government efforts to reduce public debt, the enhanced resilience of the government's fiscal position, and governance of state-owned enterprises
The S&P's expectations are 2% real GDP growth 2025-2028, 1.5% surplus in the state's general budget 2025-2028, 1.3% surplus in the current account (2025-2028), and 1.5% Net public debt to decrease to an average of GDP (2025-2028).
The average oil prices will be $70 per barrel in 2025-2026.
Inflation will be moderate at 1.5% during 2025-2028
Previous S&P's ratings:
BB+ Positive Outlook in March 2024.
BBB- Stable Outlook in September 2024
BBB- Stable Outlook in March 2025
The agency indicated that Oman's credit rating could witness further improvement over the next two years, provided that public finances continue to be managed according to existing plans aimed at increasing non-oil revenues and enhancing spending efficiency.
These measures will bolster GDP growth, particularly in the non-oil sector, while emphasizing the importance of sustaining initiatives that drive economic diversification and capital market development.
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