Ratings agency Standard & Poor's revised its outlook for Oman to positive from stable, expecting the government's balance sheet to improve. While the agency gave the Sultanate a credit rating of BB+/B. For its part, the International Monetary Fund expected the real growth of the Omani economy to slow to 1.4 percent this year, and about 1.3 percent last year, after a growth of 4.3 percent in 2022.
According to the IMF, non-oil GDP is expected to grow by 2.5 percent this year. Central government debt to GDP is expected to reach 37.7 percent in 2023, down from 39.9 percent the previous year, and to fall to 35.7 percent this year.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
