An international credit rating agency affirms the Sultanate of Oman's rating at the investment grade level of "BBB-"

Standard & Poor's affirmed Oman's credit rating at the investment grade level of "BBB-" with a stable outlook, citing the government's commitment to fiscal policy and its ability to maintain economic stability despite oil price volatility.

The report noted that government reforms, including the restructuring of state-owned enterprises, diversification of revenue sources, and the launch of the Oman Future Fund, have contributed to strengthening the economy and attracting foreign investment.

The agency forecasts that real GDP growth will rise from 1.7 percent in 2024 to over 2 percent in 2025-2028, supported by growth in the non-oil sectors.

It also anticipates that the average price of Brent crude will rise from $60 per barrel in the second half of 2025 to $65 per barrel in 2026-2028. The agency further noted that public debt is expected to decline from 36 percent in 2024 to 33 percent by 2028.