Standard & Poor's Affirms Oman's Rating

Standard & Poor’s affirmed Oman’s investment-grade rating at BBB- with a stable outlook, citing continued public finance consolidation and improvements in economic performance as well as the country’s financial and external positions. The agency noted that Oman holds a distinct advantage compared with several Gulf states, as its oil and gas exports do not rely on transit through the Strait of Hormuz, thereby reducing its exposure to direct repercussions from any disruptions in navigation through the strait. In its report, S&P raised its forecast for Oman’s real GDP growth in 2026 to around 3.5%, up from its previous estimate of 1.6%. On the public finance front, the agency projected a fiscal surplus of approximately 4.8% of GDP in 2026 and a surplus of about 2.2% of GDP in 2027, according to the Oman News Agency. The agency also highlighted continued improvement in public debt indicators alongside the maintenance of a positive medium-term position for net government assets.