Moody's: Stable view for Oman

Moody's Investors Service said that Oman's A2 investment-grade sovereign ratings maintain a stable outlook despite the collapse in international oil prices since July 2008 and much tougher economic prospects for 2009.

The government's extensive offshore financial assets will enable it to provide fiscal stimulus and fund projected deficits without resorting to debt accumulation, at least over the short to medium term, Moody's said.

Moody's noted the enhanced volatility of Oman's economic performance because of its heavy reliance on oil and gas exports. Real growth is expected to slow significantly in 2009, the agency said.

Nevertheless, the country's nominal GDP per capita, which is likely to contract by about 15% this year, will continue to rank highly on the global scale, Moody's said, adding that it considers Oman to have a high level of economic strength.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.