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23/06/2025 05:11 AST
The World Bank's 2024 Gulf Economic Update report highlighted that the Sultanate of Oman has achieved significant positive fiscal and economic results despite regional and global challenges.
The report affirmed that Oman's economic performance reflects the success of its fiscal and economic policies amid global changes, aligning with the priorities of economic diversification and financial sustainability under "Oman Vision 2040."
It noted that Oman has recorded fiscal surpluses in recent years due to government measures to improve financial performance, as well as a current account surplus driven by growth in non-oil exports and services exports, strengthening its external position.
The report praised Oman's reduction of public debt from 68% to 35% of GDP, demonstrating its commitment to fiscal sustainability, along with its credit rating upgrade to an investment-grade level (BBB-) by S&P in 2024.
Additionally, Oman maintained low inflation at 0.6% in 2024, compared to the GCC average of 2%. Looking ahead, the report projected continued current account surpluses and growth in non-oil exports, supported by fiscal discipline and economic diversification efforts.
For the broader GCC, the report forecasted economic growth of 3.2% in 2025 and 4.5% in 2026, with the oil sector expected to grow by 5.7% and the non-oil sector by 4.9% in the medium term, while inflation remains low.
Times of Oman
03/12/2025
OQ Gas Networks (OQGN), the sole operator of Oman's natural gas transportation network, has signed an agreement to acquire a gas transportation pipeline in Block 61, which hosts the Khazzan and Ghaze
Muscat Daily
04/08/2025
Integrated Gas Company (IGC), the state-owned entity overseeing Oman's entire gas supply chain, has announced its approval for the implementation of a major new gas pipeline project to meet the grow
Muscat Daily
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29/01/2026
The Qatar Central Bank (QCB) announced yesterday that it has kept key lending, deposit, and repo interest rates unchanged, after evaluating the country's current monetary policy.
In a post o
Gulf Times
29/01/2026
The Central Bank of the UAE (CBUAE) announced late Wednesday it has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 3.65%.
This CBUAE decision was tak
Gulfnews
29/01/2026
Fitch Ratings has assigned 'neutral' 2026 sector outlook for the Gulf Cooperation Council (GCC) Corporates sector, reflecting steady earnings due to ongoing government-led capex in infrastructure and
Trade Arabia
29/01/2026
The Council of Economic and Development Affairs held a meeting via video conference.
The council reviewed the monthly report submitted by the Ministry of Economy and Planning, which covered
Arab News
29/01/2026
Saudi Arabia's New Murabba Development Co., a wholly owned subsidiary of the Public Investment Fund, has issued a request for information to gauge the market for modular and offsite fit-out solutions
Arab News
Financial Information Co.
Saudi Arabia