Sovereign fund-led economy: Oman takes a page from Saudi Arabia
To:
Al-Monitor Readers
From:
Sebastian Castelier
Freelance journalist covering Gulf economies
Date:
May 3, 2024
Bottom Line:
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.