Oman could overcome fiscal challenges with diversification: Moody's
High per capita income and a strong government will boost a robust economic outlook and help Oman remain resilient in tough financial situation, according to Annual Credit Analysis by Moody’s. The analysis rates the Sultanate’s Economic Strength as ‘High’ on back of high per capita income of USD43,707, which is more than double of the median of other Baa1 rated countries, and GDP change, which is comparable to countries like Luxembourg. “Although we expect government debt to rise to 40% of GDP by 2018 from less than 5 per cent at the start of oil price shock, Oman’s fiscal buffers will support the country through its process of fiscal and external adjustments,” Steffen Dyck, Senior Credit Officer at Moody’s and co-author of the report said.
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