Muscat: Moody's raised the credit rating of Sultanate of Oman ‬⁩for the second time in a row this year to Ba1 with a stable outlook. ‎

The agency attributed this development in the classification to its expectations of a continued decline in public debt and improved indicators of the government’s ability to bear the burden of the state’s public debt, as a result of the efforts made by the government in exploiting additional revenues to pay off the public debt, in addition to controlling spending and improving financial revenues.

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