S&P revised Oman's outlook to positive and affirmed its rating at 'BB+/B' due to improving fiscal position and debt reduction efforts.

Credit ratings agency S&P has revised Oman's outlook to positive from stable, affirming the country's rating at 'BB+/B'. The revision is due to Oman's improving fiscal position, including public fiscal surpluses and government efforts to reduce net public debt. S&P expects real GDP growth to reach 1.6% in 2023 and 2% during the 2024-27 period, with public debt declining from 36% in 2023 to 31% in 2027.

March 29, 2024
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