Oman's credit rating improves to 'BB+' due to public spending control, debt reduction, and increased non-oil revenues.
Oman's credit rating has improved due to the government's efforts to control public spending, reduce public debt, and increase non-oil revenues. S&P's credit rating rose from 'BB' to 'BB+' in March 2024 with a positive outlook, providing opportunities to enhance the economy and attract foreign investment. The public debt decreased by 13.63% from RO17.6bn to RO15.2bn, reflecting the country's improved creditworthiness.
April 13, 2024
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