Fitch Ratings revises Oman’s outlook to stable from negative as economic picture improves
Oman fiscal deficit
Latest in Oman fiscal deficit
Oman economic outlook
Oman’s first S&P upgrade in over a decade could be on the cards
S&P, the first of the major credit assessors to give Oman a non-investment grade, affirmed its long-term foreign currency rating at B+, on par with Bahrain, Bolivia and Rwanda
budget deficit
IMF’s technical help in Oman unlikely to result in aid package
Struggling with the aftermath of lower oil prices and Covid-19, Oman has been seeking ways to tame its budget shortfall and diversify the economy as crude reserves dwindle
International debt markets
Oman is planning a second debt sale in 2021 with dollar sukuk
Sultanate’s public finances, long among the weakest in the Gulf Arab region, remain vulnerable to oil-price swings and disruptions from the global coronavirus pandemic
budget deficit
Oman’s first quarter deficit rises to 751.4 million rials
Public revenue was 1.82 billion rials at the end of March, down 30.5 percent compared with a year ago
Oman economy
Oman is finding way out of its budget distress without a bailout
The sultanate has signaled a resolve to improve fiscal discipline with plans to start taxing incomes of wealthy individuals in 2022
Dollar bond market
Hedge fund ProMeritum bets on Oman, Angola to guard lossless run
Helped by a big position in South African bonds, ProMeritum generated a 7.2 percent return last year, its sixth consecutive annual gain since its inception in 2015
Oman Budget 2021
Oman expected to add $779m in revenue from VAT this year
Sultanate’s 2021 budget forecasts a 14% drop in spending and a 19% decline in revenue
government subsidies
Oman to start removing utility subsidies from January 2021
Subsidies for the electricity and water sector are about $1.95 billion, according to the 2020 budget
Energy Development Oman
Oman starts new energy company as it seeks to leverage oil block
Company will “undertake hydrocarbon exploration and production operations” and can borrow money “in any manner,” according to government gazette
Aid package
Oman has not discussed any Gulf aid package, says Central Bank
Central Bank president Tahir Al Amri said that from the bank’s perspective, the answer is ‘categorically no’
budget deficit
Oman’s latest budget update reveals deficit narrowing
Downgraded by all three major rating companies, the sultanate has stopped providing data on its budget performance
budget deficit
S&P cuts Oman’s rating ‘in the absence of substantial fiscal measures’
S&P cut Oman’s outlook to negative while affirming its debt score at BB, on par with Paraguay and Serbia
bond market
Why Oman has work to do before bond sale
If Oman does tap the international bond market, it would join a plethora of governments who sought to take advantage of sudden surge in risk appetite
economic reforms
Moody’s cuts Oman rating over lack of meaningful fiscal reforms
Moody’s forecasts Oman’s fiscal deficit will remain high, ranging from 7% to 11% of GDP in the next three years
budget deficit
Oman said to cut borrowing plans as it turns to asset sales
Oman will likely raise between $2 billion and $3 billion in bonds and loans
foreign direct investment
Oman’s privatisation of electric companies to have ‘modest’ impact on fiscal deficit
Oman plans to collect $1.8 billion from privatisations by 2022