Moody's: Oman stable and strong

Moody's Investors Service said in a new credit report on Oman that the country's A2 foreign- and local-currency government bond ratings primarily reflect strong public finances with the maintenance of a wide fiscal surplus and ongoing accretions to net official assets on the back of buoyant oil receipts.

The outlook is stable.

The favorable trend in Oman's government finances has continued, the agency said. The short- to medium-term outlook for Oman's public finances is sound due to continued high global oil prices, which are expected to exceed $90 per barrel, their highest ever annual average, the agency said.

Moody's said it has some concerns with regard to longer-term credit quality in light of rising inflation and the country's ambitious public investment plan, which could erode fiscal flexibility. Another uncertainty surrounds the outlook for the country's hydrocarbon sector, the agency said.

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