{"id":13723,"date":"2024-05-24T00:00:00","date_gmt":"2024-05-24T00:00:00","guid":{"rendered":"https:\/\/www.fm.gov.om\/13723\/"},"modified":"2025-12-31T11:58:32","modified_gmt":"2025-12-31T11:58:32","slug":"fitch-affirms-omans-rating-at-bb-with-stable-outlook","status":"publish","type":"post","link":"https:\/\/www.fm.gov.om\/en\/13723\/","title":{"rendered":"Fitch affirms Oman’s rating at BB+ with stable outlook"},"content":{"rendered":"

Fitch Ratings has affirmed Oman’s credit rating as BB+ with a stable outlook as a result of the decline in public debt and its positive impact on finances.<\/p>\n

Fitch expects Oman to achieve a fiscal surplus of 2.2 percent of GDP in 2024 and 0.9 percent in 2025 assuming the average oil price reaches about US$80 per barrel in 2024 and about US$70 per barrel in 2025.<\/p>\n

The agency expects the oil price break-even point in Oman to reach between US$65-70 dollars per barrel.<\/p>\n

\"Fitch<\/p>\n

The agency said it expects public debt as a percentage of GDP to decrease from 36.5 percent at the end of 2023 to 32.4 percent in 2024 and 31.9 percent in 2025.<\/p>\n

It indicated that the Sultanate will continue to repay some debts before their due date benefiting from additional revenues resulting from high oil prices.<\/p>\n

The agency expects the government to repay about US$2.9 billion of its foreign debt in the first half of 2024.<\/p>\n

The agency predicts GDP will grow from 1.3 percent in 2023 to 1.8 percent in 2024 supported by the growth of the non-oil sector by 2.7 percent.<\/p>\n

This growth is attributed to increased domestic consumption, growth in foreign investments and an improvement in the tourism sector. The agency also expects the non-oil sector to grow to 2.8 percent in 2025.<\/p>\n

Fitch said Oman’s credit rating may rise if financial control measures continue, public debt declines as a percentage of gross domestic product and non-oil revenues grow.<\/p>\n","protected":false},"excerpt":{"rendered":"

The agency credits the decline in public debt and its positive impact on finances.<\/p>\n","protected":false},"author":1,"featured_media":13726,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[76,116],"tags":[],"class_list":["post-13723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-posts-and-videos","category-trade-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/13723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/comments?post=13723"}],"version-history":[{"count":1,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/13723\/revisions"}],"predecessor-version":[{"id":13725,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/13723\/revisions\/13725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/media\/13726"}],"wp:attachment":[{"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/media?parent=13723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/categories?post=13723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fm.gov.om\/en\/wp-json\/wp\/v2\/tags?post=13723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}