Moody's credit rating agency gave a positive outlook for the Omani economy thanks to its policies that enabled it to collect new reserve assets and initiate the implementation of a wide package of development projects, which were slow during the epidemic period and years before that.
Moody's raised the future outlook for the Sultanate of Oman from stable to positive while maintaining the rating at PA3. Noting that high oil prices eased the country's debt position over the next few years.
The general budget managed to achieve a surplus in the first half of this year by more than two billion dollars, compared to a deficit of 2.85 billion dollars on an annual basis. “Moody's” revealed that the possibility of continued high oil prices in the next few years gives the government additional time to move forward with financial and economic reform plans. It is expected that the liquidity available in Muscat will represent a wall against the risks related to the rise in doubtful debts, and the end of periods, and the end of the financial stimulus packages related to the pandemic.
Source (Al-Arab Newspaper of London, Edited)
