Moody's has revised its outlook for Oman from stable to positive with the affirmation of B's credit rating. B.A. 1. The agency attributed this improvement to the continued decline in public debt levels and improved oil revenues, in addition to the government's commitment to the public debt management strategy, which led to reducing external debt risks, strengthening the country's financial position, and achieving positive results and stable levels of foreign reserves.
The government's measures have strengthened its ability to cope with shocks, such as energy price fluctuations, rising interest rates, and other variables. The Sultanate was able to reduce public debt to 36.5 percent of GDP by the end of 2023. External debt is about 24 percent compared to more than 50 percent of GDP in 2020.
Source (Al-Arab Newspaper of London, Edited)
