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Moody’s Upgrades Oman’s Credit Rating to Ba2 with Positive Outlook

Moody’s credit rating agency upgraded Oman’s credit rating from Ba3 to Ba2 while maintaining a positive outlook due to the decline in public debt and the improvement in the Sultanate’s ability to meet its financial obligations in 2022.

In its report, Moody’s attributed the upgrade and the increase in public revenues to the government’s tangible efforts to control financial conditions and its decision to direct financial surpluses towards reducing public debt, noting the improvement in the effectiveness of fiscal policy and the efficiency of financial governance.

The agency pointed out that the positive future outlook reflects the continued improvement of the public debt rate over the next few years, despite the drop in oil prices, by maintaining spending control and taking more developmental financial measures.

Source: Qatar News Agency

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