Muscat: Oman has regained its investment-worthiness as global credit rating agency Standard & Poor’s (S&P) upgraded the country’s credit rating to ‘BBB-’ with a stable outlook. This significant development marks the first time in nearly seven years that Oman has reached this rating, signifying restored confidence in its economic stability.

His Excellency Sultan bin Salim bin Said Al Habsi, the Minister of Finance, explained that the Standard & Poor’s report raising the creditworthiness of the Sultanate of Oman confirms that the government is on its way to achieving the national goals of restoring financial balance and achieving financial sustainability. It also enhances confidence in the strength of the economy and its ability to grow and expand economically.