{"id":11036,"date":"2023-12-08T00:00:00","date_gmt":"2023-12-08T00:00:00","guid":{"rendered":"https:\/\/archive.fm.gov.om\/11036\/"},"modified":"2023-12-08T00:00:00","modified_gmt":"2023-12-08T00:00:00","slug":"moodys-upgrades-omans-credit-rating-to-ba1-with-stable-outlook","status":"publish","type":"post","link":"https:\/\/archive.fm.gov.om\/en\/11036\/","title":{"rendered":"Moody&#8217;s upgrades Oman&#8217;s credit rating to \u201cBa1\u201d with stable outlook"},"content":{"rendered":"<p>Moody&#8217;s has raised Oman&#8217;s credit rating for the second time this year from &#8220;Ba2&#8221; to &#8220;Ba1&#8221; and changed its future outlook from positive to stable.<\/p>\n<p><a href=\"https:\/\/www.moodys.com\/\" target=\"_blank\" rel=\"noopener\">The credit ratings agency<\/a> cited a continued decline in public debt, controlled spending and improved financial revenues.<\/p>\n<p>Moody&#8217;s said Oman&#8217;s determination to reduce debt will strengthen the Sultanate&#8217;s financial position and enable it to confront future shocks even if oil prices fall.<\/p>\n<p>Financial diversification since 2020 has continued a trend of reduced dependence on oil revenues, it said. The agency predicted average oil prices will reach 80-85 US dollars per barrel during 2024-2025 before declining to 55-75 US dollars per barrel in the medium term.<\/p>\n<p>As a result, the agency expects Oman&#8217;s public debt to fall to about 35 per cent of GDP over the next three years.<\/p>\n<p>Moody&#8217;s said Oman will achieve a current account surplus of about 2 per cent in 2023, down from 5 per cent in 2022. It predicted a general budget surplus of about 3.5 per cent of GDP, down from 7.5 per cent during 2022.<\/p>\n<p>The agency said Oman&#8217;s green hydrogen projects are likely to lead to reduced credit risks. Global Bank also suggested the credit rating may rise if public debt continues to fall and non-oil revenues increase.<\/p>\n<p>This is an unofficial English version of an Arabic report. To view the official Arabic text, click <a href=\"https:\/\/staging.ofm-archive.com\/%d9%88%d9%83%d8%a7%d9%84%d8%a9-%d9%85%d9%88%d8%af%d9%8a%d8%b2-%d8%aa%d8%b1%d9%81%d8%b9-%d8%a7%d9%84%d8%aa%d8%b5%d9%86%d9%8a%d9%81-%d8%a7%d9%84%d8%a7%d8%a6%d8%aa%d9%85%d8%a7%d9%86%d9%8a-%d9%84%d8%b3-2\/?lang=ar\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The credit ratings agency cited a continued decline in public debt, controlled spending and improved financial revenues.<\/p>\n","protected":false},"author":2,"featured_media":9231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[142],"tags":[],"class_list":["post-11036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/11036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/comments?post=11036"}],"version-history":[{"count":0,"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/posts\/11036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/media\/9231"}],"wp:attachment":[{"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/media?parent=11036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/categories?post=11036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.fm.gov.om\/en\/wp-json\/wp\/v2\/tags?post=11036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}