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Zawya
23-06-2025
- Business
- Zawya
Attractive investment environment stimulates growth in Oman
The Sultanate of Oman's ongoing efforts to enhance its financial and economic position by managing its financial commitments and by reducing its public debt, have led to a steady improvement in its credit ratings and have improved investor confidence in the Omani economy. Consequently, these positive indicators have also created an attractive investment environment that stimulates growth across various economic sectors in the country. Oman's economy has achieved a surplus of RO 540 million against the budgeted deficit of RO 640 million for the financial year 2024 and the GDP at constant prices rose by 1.7%, to reach RO 38.305 billion in 2024 compared to 2024. Further, Oman has reduced its public debt by RO 660 million which stood at RO 14.6 billion by the end of 2024 compared to the previous year. Percentage wise the external debt of the Sultanate of Oman is 38% of the GDP which is far below, compared to our GCC neighbors Bahrain which is estimated at 134% of the GDP at the end of 2024 followed by Qatar at 41% and Kuwait at 39% (2023). UAE with 32% and Saudi Arabia with 25 % (2023) are closely behind. In line with Oman's progress, the credit rating agencies have given a positive outlook for the Sultanate which is quite encouraging and promising. By the end of September 2024, S&P had upgraded Oman's credit rating from 'BB+' to 'BBB-', thus restoring its investment-grade status after years of downgrades due to the financial crisis associated with falling oil prices and the Covid-19 pandemic. Similarly other credit rating agencies like Fitch and Moody's had also revised Oman's outlook from stable to positive. It is very important to understand that a credit rating of BBB- is better than BB+. BBB- is considered investment grade, while BB+ is considered non-investment grade or speculative grade. Generally, higher ratings indicate a lower risk of default and a greater capacity to meet the country's financial obligations. Factors affecting credit ratings vary for governments, corporate bonds, including economic conditions, political stability, industry dynamics, and company-specific factors. Oman is proud of this evolving economic landscape and is at the same time remain mindful of the global challenges, including ongoing geopolitical tensions and trade disruptions which are quite unfortunate. But we recognize the unique opportunities they present for the Sultanate. As we move forward let's hope to regain the peace and harmony that existed amongst our brothers which had been the hallmark of the flourishing communities in the Middle East. Let us continue to lead with purpose, serve with integrity, and build with the same spirit that has carried the people of Oman throughout the ages.
Arab News
11-06-2025
- Business
- Arab News
Egypt allocates Red Sea land for issuing bonds and lowering debt
CAIRO: Egypt has allocated a 174 square km plot on the Red Sea coast to the finance ministry for use in Islamic bond issuances and in efforts to lower the country's public debt, the official gazette said on Tuesday. The gazette did not elaborate on how the land would be used, but Egypt, which has been mired in a slow-burning economic crisis, signed a $35 billion deal with the UAE early last year to develop a 170-square-km tract along the Mediterranean coast. Since then, Egypt has been seeking similar large-scale investments as it tries to overcome the economic crisis. It has been in talks with Saudi Arabia, Qatar, and Kuwait in a bid to attract major investments, according to investment bankers and news reports. In tandem, Egypt also plans to issue $2 billion in sukuks, or Islamic bonds, in 2025, Finance Minister Ahmed Kouchouk told Reuters in April.
Zawya
11-06-2025
- Business
- Zawya
Egypt allocates Red Sea land for issuing bonds and lowering debt
CAIRO - Egypt has allocated a 174 square km (67 square mile) plot on the Red Sea coast to the finance ministry for use in Islamic bond issuances and in efforts to lower the country's public debt, the official gazette said on Tuesday. The gazette did not elaborate on how the land would be used, but Egypt, which has been mired in a slow-burning economic crisis, signed a $35 billion deal with the United Arab Emirates early last year to develop a 170-square-km tract along the Mediterranean coast. Since then, Egypt has been seeking similar large-scale investments as it tries to overcome the economic crisis. It has been in talks with Saudi Arabia, Qatar, and Kuwait in a bid to attract major investments, according to investment bankers and news reports. In tandem, Egypt also plans to issue $2 billion in sukuks, or Islamic bonds, in 2025, Finance Minister Ahmed Kouchouk told Reuters in April. (Reporting by Mohamed Ezz, Nafisa Eltahir, and Patrick Werr; Editing by Kevin Liffey and Emelia Sithole-Matarise)
Times
19-05-2025
- Business
- Times
Japan reveals the sun is setting on old world debt economics
What is the most important price in the world economy right now? The price of gold, of oil, of rice, of the US dollar? Each can make a righteous claim to that venerable title. But arguably the one that matters most right now is the price of Japanese debt. That price, for IOUs issued in the world's third largest economy, has huge implications well beyond its shores. For decades low interest rates in Japan, subdued inflation and huge volumes of public debt — now approaching $9 trillion — meant Japan was a siphon of capital for other nations. Japan's ability to do this alongside running up huge debt levels — worth more than 2.5 times the size of its own economy — without collapsing the
