IMF Staff Country Reports

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

Publication Date:

January 29, 2024

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Country Report No. 2024/031

Subject:

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

Frequency:

regular