{"id":4852,"date":"2025-09-27T16:02:00","date_gmt":"2025-09-27T12:02:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/oman-sovereign-rating-affirmed-bbb\/"},"modified":"2025-09-27T23:10:22","modified_gmt":"2025-09-27T19:10:22","slug":"oman-sovereign-rating-affirmed-bbb","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/oman-sovereign-rating-affirmed-bbb\/","title":{"rendered":"S&#038;P Affirms Oman\u2019s Sovereign Ratings at &#8216;BBB-\/A-3&#8217;: What It Means for Investors and Business Confidence in Oman"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitv3sog-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitv3sog-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitv3sogw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitv3soga{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitv3soga:hover{border-color:#dc262688}\r\n.hitv3sogg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 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.15s}\r\n.hitv3sogbtn:hover{filter:brightness(1.15);transform:scale(1.04)}\r\n.hitv3sogbr{font-size:9px;color:rgba(255,255,255,.18);text-align:center;margin-top:5px;letter-spacing:.1em;text-transform:uppercase}\r\n\/* \u2500\u2500 Compact horizontal: 380\u2013599px (like 320\u00d7100) \u2500\u2500 *\/\r\n@container (min-width:380px) and (max-width:599px){\r\n  .hitv3soga{padding:12px 22px;gap:12px;min-height:100px}\r\n  .hitv3sogh{font-size:16px}\r\n  .hitv3sogs{display:none}\r\n  .hitv3sogbtn{padding:7px 16px;font-size:11px}\r\n}\r\n\/* \u2500\u2500 Mobile\/card: < 380px (like 300\u00d7250) \u2500\u2500 *\/\r\n@container (max-width:379px){\r\n  .hitv3soga{flex-direction:column;align-items:center;justify-content:space-between;min-height:260px;padding:22px 22px;gap:10px}\r\n  .hitv3sogc{align-items:center;text-align:center}\r\n  .hitv3sogh{font-size:22px;white-space:normal}\r\n  .hitv3sogs{font-size:11px;white-space:normal}\r\n  .hitv3sogbl{display:flex;align-self:center;text-align:left}\r\n  .hitv3sogbtn{width:100%;justify-content:center;padding:12px 20px}\r\n}\r\n\/* \u2500\u2500 Wide: >= 600px (leaderboard style) \u2500\u2500 *\/\r\n@container (min-width:600px){\r\n  .hitv3soga{min-height:90px}\r\n}\r\n<\/style><!-- HiT Land Banner \u2014 Container Query Responsive -->\r\n<div class=\"hitv3sogw\">\r\n<a class=\"hitv3soga\" href=\"https:\/\/hit.land\/services\/web-app-development\" target=\"_blank\" rel=\"noopener nofollow\" style=\"animation:hitv3sog-fadein 0.7s ease both;animation-delay:0s;\">\r\n  <div class=\"hitv3sogg1\" style=\"animation:hitv3sog-glow 3s ease-in-out infinite;\"><\/div>\r\n  <div class=\"hitv3sogg2\"><\/div>\r\n  <div class=\"hitv3soggl\" style=\"animation:hitv3sog-shimmer 3s ease-in-out infinite;\"><\/div>\r\n  \r\n  <div class=\"hitv3sogc\">\r\n    \r\n    <div style=\"display:inline-flex;align-self:flex-start;align-items:center;gap:6px;background:rgba(255,255,255,0.08);border:1px solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p><\/p>\n<p><strong>MUSCAT, SEPTEMBER 27<\/strong> \u2014 Global credit rating agency S&amp;P Global Ratings has affirmed the Sultanate of Oman\u2019s sovereign credit ratings at \u2018BBB-\u2019 for long-term and \u2018A-3\u2019 for short-term foreign and local currency debt, maintaining a stable outlook. The transfer and convertibility assessment remains at \u2018BBB\u2019.<\/p>\n<p>This affirmation reflects S&amp;P\u2019s confidence in Oman\u2019s commitment to fiscal discipline and ongoing structural reforms, despite anticipated lower oil prices in the coming years.<\/p>\n<p>S&amp;P stated, \u201cWe expect the Omani government will remain committed to financial discipline throughout a potentially extended period of lower oil prices.\u201d While economic diversification efforts are progressing, hydrocarbons continue to be the primary source of fiscal and export revenues.<\/p>\n<p>According to S&amp;P\u2019s latest projections, Oman is expected to record a modest fiscal deficit of 0.5% of GDP in 2025, followed by broadly balanced budgets throughout 2026 to 2028. The agency also forecasts that Oman will maintain a net general government asset position of approximately 8% over the same period.<\/p>\n<p>The stable outlook reflects a balance between the positive impacts of Oman\u2019s fiscal and economic reforms and the country\u2019s structural vulnerability to oil price fluctuations. S&amp;P\u2019s baseline scenario assumes Brent crude oil prices averaging $60 per barrel in 2025, rising to $65 per barrel from 2026 to 2028, compared to an average of $84 per barrel from 2021 to 2024.<\/p>\n<p>Oman\u2019s drive to reduce its dependence on oil is beginning to show results. Key initiatives include reorganizing government-related entities (GREs), asset sales to stimulate private sector growth, and the introduction of the region\u2019s first personal income tax (PIT). Although PIT revenues are expected to be modest initially, they represent a crucial step toward diversified revenue streams.<\/p>\n<p>S&amp;P noted, \u201cMeasures that reduce the impact of oil price volatility\u2014such as fiscal reforms, expenditure controls, and private sector development\u2014are steadily strengthening Oman\u2019s economic resilience.\u201d<\/p>\n<p>In the event of a significant drop in oil prices, S&amp;P expects the government could mitigate fiscal pressures by reducing capital spending\u2014currently about 1.7% of GDP\u2014and adjusting non-obligatory transfers to savings funds.<\/p>\n<p>On economic growth, S&amp;P projects an average GDP growth rate of 2% annually between 2025 and 2028, supported by both hydrocarbon and non-hydrocarbon sectors. Non-oil activities, including construction, manufacturing, and services, now account for an estimated 73% of GDP, highlighting the economy\u2019s gradual diversification.<\/p>\n<p>Oil production is forecast to increase to 1.2 million barrels per day by 2028. However, weaker prices are expected to narrow current account receipts, leading to average current account deficits of 1.9% of GDP during the forecast period. S&amp;P anticipates these deficits will be largely financed by foreign direct investment, which has averaged around 10% of GDP in recent years.<\/p>\n<p>The agency also praised Oman\u2019s advances in fiscal transparency and governance, noting the publication of quarterly GDP and fiscal data and the country\u2019s participation in the IMF Article IV review process.<\/p>\n<p>With non-hydrocarbon growth expected at 2.9% annually, driven by investments in manufacturing and tourism, S&amp;P concluded that Oman\u2019s medium-term outlook remains stable, supported by continuous reform momentum.<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>The reaffirmation of Oman&#8217;s credit rating by S&amp;P with a stable outlook <strong>signals strong fiscal discipline and ongoing structural reforms<\/strong>, providing a solid foundation for economic resilience despite oil price volatility. <strong>Businesses and investors should capitalize on the growing non-oil sectors, particularly manufacturing and tourism, while remaining cautious of oil market fluctuations that could impact fiscal stability.<\/strong> Smart entrepreneurs should focus on diversification opportunities driven by government reforms and increased private sector participation to leverage Oman&#8217;s economic transition.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S&#038;P Global Ratings affirmed Oman\u2019s \u2018BBB-\u2019 long-term and \u2018A-3\u2019 short-term sovereign credit ratings with a stable outlook, citing fiscal prudence and structural reforms amid expected lower oil prices. Oman aims for modest deficits, economic diversification, and steady GDP growth through 2028.<\/p>\n","protected":false},"author":2,"featured_media":4853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[311,1358,161],"class_list":["post-4852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-credit-rating","tag-economic-reform","tag-oman"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2025\/09\/3141232.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/4852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=4852"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/4852\/revisions"}],"predecessor-version":[{"id":4854,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/4852\/revisions\/4854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/4853"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=4852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=4852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=4852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}