Oman economy has witnessed an improvement in public financial measures: Fitch Ratings

Muscat: Fitch Ratings said the revision of Oman’s sovereign rating outlook reflected improvements and the expected development of key public finance metrics, including the government debt-to-GDP ratio.

It added in a new statement posted on its website that these improvements were driven by high oil prices and financial reforms, and to reduce external financing pressures, even as external financing needs continued to rise.

On the other hand, Fitch revised its forecast regarding the financial strength rating of Oman Reinsurance Company (Oman Re) to stable instead of negative, at BP.

It also said that more than half of the company’s total investments are cash deposits in Omani banks by the end of 2021, while 6% were invested in local currency bonds and 29% in government bonds denominated in US dollars.

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.