Muscat: Fitch Ratings has upgraded Oman’s credit rating from “BB+” to investment grade at “BBB-” with a stable outlook in its report issued today. The agency attributed the upgrade to the sustained improvement in the Sultanate’s public finance indicators, stronger external financial position, and increased confidence in Oman’s ability to maintain prudent fiscal policies that enable it to navigate oil price fluctuations while keeping the budget deficit moderate and public debt levels stable.

The agency noted that Oman has succeeded in entrenching fiscal discipline, having significantly reduced public debt to about 36 per cent of GDP in 2025, compared with roughly 68 per cent in 2020.

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