MUSCAT: Fitch Ratings has predicted that Oman’s may record a surplus of 4.8% of GDP in 2022, this would be the first time the country would be achieving that since 2014.
In a new report published on its website, Fitch Ratings said, “We expect the rise in hydrocarbon prices, along with efforts to diversify exports, to boost the trade balance of Omani goods.”
The report stated that the revival of tourism activity will reduce the deficit in services trade, and hydrocarbon exports in the Sultanate of Oman will rise in 2022.
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In December 2021, Fitch has revised its future outlook for the Sultanate of Oman to stabilise from negative, with an affirmation of the long-term credit rating at “BB-”.
