Economy
Oman Cuts Down Public Debt to RO 14.5 Billion

Muscat: The Sultanate of Oman has paid RO 700 million ($1.8 billion) towards its maturing international sukuk bonds, cutting down the volume of public debt from RO 15.3 billion by the end of 2023 to RO 14.5 billion now.
This contributed to a decline in the ratio of public debt to gross domestic product (GDP) from 36.5 percent at the end of 2023 to 33.9 percent during the first half of 2024.
The Ministry of Finance said that the Sultanate of Oman’s financial obligations were managed through the repayment of external loans and the issuance of government development bonds, as part of Oman’s prompt settlement of financial obligations and its continuous review of related financing costs.
The Ministry pointed out that the repayment of foreign debts during 2024 reflected in the distribution of risks associated with the public debt portfolio.
As a result, the ratio of external debt in the total volume of public debt declined from 74 percent at the end of 2023 to 71 percent during the first half of 2024, the ministry explained.
The ministry added that this process is consistent with the government’s efforts to bring down public debt and support the local debt market through a lower risk rate.
The Ministry affirmed that financial surpluses achieved are redirected to enhance social spending, stimulate economic growth, manage financial obligations, reduce public debt and build reserve buffers to manage financial obligations.
The government strives to strengthen Oman’s fiscal position, reduce the burden of public debt, minimize public debt risks and enhance creditworthiness by improving credit rating indicators.
-
OER Magazines1 month ago
Dossier – ToP 25 Personalities 2025
-
Dossier1 month ago
Arabic Dossier – ToP 25 Personalities 2025
-
Alamaliktistaad Magazines1 month ago
Al-iktisaad, August 25
-
OER Magazines1 month ago
OER, August 2025
-
News2 months ago
xAI Open-Sources Grok 2.5, Signaling Accelerated AI Push
-
News2 months ago
Ooredoo Wins Silver Stevie® Award for Diversity and Inclusion Excellence
-
Entertainment1 month ago
Here’s a Complete Overview of the 2025/2026 Season at the Royal Opera House Muscat
-
News1 month ago
Sultan Center Unveils Flagship Al Hail Store, Elevating Premium Retail Experience in Oman