MUSCAT: Credit rating agencies are unfair with Oman, a Majlis Al Shura panel has said.
A meeting chaired by Dr. Saleh bin Said Masan, chairman of the Economic and Financial Committee of the Majlis A’Shura committee, said that the ratings of the credit rating agencies were unfair in their assessment of the Sultanate’s economy.
“The Sultanate has many economic and comparative advantages that must be taken into account in the credit rating,” the panel observed.
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Recently, a few numbers of credit rating agencies had downgraded Oman.
The panel was holding a meeting with the IMF officials to discuss the economic and financial developments in the Sultanate and the effectiveness of the measures taken by the government to contain the crisis of low oil prices.
The meeting focused on the efforts exerted in the field of economic diversification, enhancing non-oil revenues and fiscal control policies, also reviewed the expected growth estimates of the Sultanate’s GDP and the future scenarios of the Omani economy, applying the IMF’s recommendations and recommendations through activating a set of financial policies and a package of reforms Tax.
