Saturday 27 / September / 2025
Muscat: Standard & Poor's (S&P) today affirmed Oman's investment grade credit rating at 'BBB-' with a stable outlook, highlighting the government's commitment to fiscal measures and its ability to maintain economic stability despite oil price fluctuations.
The report indicated that government reforms, including the restructuring of state-owned enterprises, diversification of income sources, and the launch of the Oman Future Fund, contributed to strengthening the economy and attracting foreign investment.
The agency expects GDP growth at constant prices to range from 1.7 percent in 2024 to more than 2 percent in 2025-2028, supported by growth in the non-oil sectors.
It also expected the average price of Brent crude to rise from $60 per barrel in the second half of 2025 to $65 per barrel in 2026–2028, noting that public debt is expected to decline from 36 percent in 2024 to 33 percent by 2028.
Regarding inflation, the agency expects inflation to remain low at an average of 1.5 percent during the years 2025-2028. The agency expects net government assets to stabilize at 8 percent in 2025-2028, and non-oil sector growth to stabilize at 2.9 percent annually, driven by investment efforts in the manufacturing and tourism sectors. It also expects fiscal and economic reforms to continue during the years 2025-2028.
On the other hand, the agency expected a slight fiscal deficit of no more than 0.5 percent of GDP in 2025, followed by a fiscal balance in 2026-2028. It also expected the current account to record a moderate deficit of 1.9 percent due to the decline in oil prices.
