The agency added that the future outlook of the Sultanate of Oman is stable in the long term, given the benefits achieved from economic reforms in the face of the impact of unfavorable oil price shocks.
“She said”Standard & Poor’s“: “Oman’s financial position remains highly dependent on price movements Oil“But resilience to shocks is enhanced.”
In early May, he said International Monetary Fund The near and medium-term future prospects for the Sultanate of Oman are positive, and he expressed his hope that oil prices will decline and economic reforms will continue in the medium term.
Standard & Poor’s said it is optimistic about Oman’s rating in the next two years if reforms achieve steady growth supported by continued momentum in its non-oil economy.
The credit rating agency expects the government’s financial and economic reform momentum to continue during the period between 2024-2027, provided that it continues to reduce levels of external debt and accumulate liquid assets.
Last week, the Central Bank of Oman reduced the repurchase rate by 50 basis points to 5.5 percent, in line with other Gulf central banks reducing interest rates in keeping with the decision. US Federal Reserve Board.
Standard & Poor’s expects that the Central Bank of Oman will continue to follow the interest rate policy followed by the US Central Bank.
The agency also expects Oman to maintain its currency peg to the dollar.
