Sovereign fund-led economy: Oman takes a page from Saudi Arabia
Al-Monitor Pro Members
Sebastian Castelier
Freelance journalist covering Gulf economies
May 3, 2024
Efforts by the new Omani leadership to enhance efficiency in the public sector are paying off. Last month, S&P Ratings lifted Oman’s outlook to positive from stable on improving fiscal landscape and successes in deleveraging the country and its state-owned enterprises. Part of the shift in sentiment results from Oman’s decision to follow Saudi Arabia’s path in centralizing control of state-owned enterprises into a sovereign wealth fund.
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