MUSCAT : “Continuing our journey towards financial sustainability, Oman Investment Authority reduced its companies’ debt by 24% and increased its contribution to the State’s General Budget, exceeding RO 6 bn from 2016 to 2023,” stated an OIA announcement.

Since 2016, the OIA has contributed over RO 6 billion to the State’s General Budget, with a notable RO 800 million contribution in 2023 alone. The Authority has also reduced its subsidiaries’ debt, including an RO 300 million prepayment in 2023.

“The most significant result from 2023 is the increase in OIA’s assets to OMR 19.2 billion, compared to around OMR 17.9 billion at the end of 2022, after achieving profits of over OMR 1.7 billion,” OIA President H.E. Abdulsalam Al Murshidi explained in the Authority’s annual report.

Over recent years, OIA has made significant progress in reducing the debt of its subsidiaries as follows:

• 2020: RO 10.135 billion
• 2021: RO 10.957 billion
• 2022: RO 8.688 billion
• 2023: RO 7.681 billion

These efforts reflect OIA’s ongoing commitment to advancing financial sustainability and supporting the Sultanate’s economic stability.

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