Oman: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman

January 29, 2024

Preview Citation

Format: Chicago

Oman: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Also available in: العربية

Summary

Economic activity has recovered, supported by favorable oil prices and sustained reform momentum. Inflation remains low. After years in deficit, fiscal and current account balances have turned into surpluses on the back of high energy prices and prudent fiscal management. Public sector debt has been reduced markedly as windfall savings were deployed to prepay debt. The authorities have made substantial progress in implementing Oman Vision 2040, but more remains to be done to reduce Oman’s reliance on hydrocarbons and bolster prospects for non-hydrocarbon growth.

Subject: Expenditure, Fiscal policy, Fiscal stance, Government asset and liability management, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration

Keywords: Arrangements in Oman, Article IV consultation mission, Fiscal stance, Global, Government asset and liability management, Liability positions vis-à-vis nonresident, Omani authorities, SOE divestment drive, State footprint

Publication Details

Pages:

92
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/031
Stock No:

1OMNEA2024001
ISBN:

9798400266195
ISSN:

1934-7685

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