Economy
Oman’s BB- Rating affirmed at Fitch

Muscat: The Fitch Credit Agency reaffirmed Oman’s credit status at ‘BB-‘ level, the same standing as before.
This comes in light of the strict circumstances being faced by Oman’s economy and, the stress of the COVID – 19 pandemic. The international financial rating powerhouse indicated that the medium-term fiscal plan that the Omani government started to implement, has contributed to the improvement of Oman’s financial position and that, the financial impact of the plan snowballs to RO 4.7 Billion by 2024, which accounts for a staggering 15% of the GDP.
It further stated in the report that, the deficit of Oman is expected to decline to 6.1% of the total GDP, by 2021. With respect to the economic growth rate, the report stated, “We expect growth to strengthen in 2022, to 3.3%, with higher average oil production and greater post-pandemic normalization, before slower growth in 2023-2024 amid ongoing fiscal austerity” thus, acknowledging that the growth in oil production till pre – COVID levels will drive a major chunk of the impetus, before an anticipated slowdown again in 2023 – 24. The report forecasted a decline in the previous non-oil deficit from 40% to 25% amidst the ongoing implementation of measures towards rationalization of spending and fiscal sustainability, at current rates.
-
Banking & Finance4 days ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines1 month ago
OER, May 2025
-
Bahrain3 days ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people