Oman entered 2026 in a strong position with its economy growing by 2.4% last year. Its insulation from the regional conflict that has impacted neighboring states means it has been able to fully capture the economic upside from higher oil and gas revenues. “The economic outlook remains favorable, despite heightened uncertainty,” the IMF’s Abdullah al-Hassan said this month following Article IV discussions in Muscat.
The government’s latest economic statistics reinforce this position, with Oman’s quarterly surplus climbing to its highest level in two years last quarter. Oman generated a $230mn surplus over the first nine months of the year as its economy bounced back from its first annual deficit in four years in 2025. “The fiscal balance is expected to remain strong, with the fiscal surplus averaging about 5.3 percent of GDP during 2026–27,” stated the IMF. (CONTINUED - 754 WORDS)
