Oman: Selected Issues

IMF Staff Country Reports, January 29, 2024

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Oman: Selected Issues

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Bibliographic details

• Published: January 29, 2024
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400266287.002

Overview

• Publication date: January 29, 2024
• Scope: Revisits exposure of Oman’s fiscal position to an array of potential risks, with focus on oil price volatility and potential risks stemming from state-owned enterprises (SOEs).
• Main objective: Document actions taken by Omani policymakers to mitigate fiscal risks and provide recommendations on fiscal risk disclosure and management.

Key findings

• Oil price volatility and SOE-related risks materially affect Oman’s fiscal position.
• Better understanding, transparent reporting, and effective management of fiscal risks underpin fiscal credibility and the sustainability of public finances.
• Existing policy actions by Omani authorities aim to mitigate fiscal risks, though further improvements in disclosure and management are recommended.

Policy recommendations and disclosure practices

• Annual budget disclosures:
  • Disclose guarantees.
  • Identify related beneficiaries.
  • Specify the expected duration.
  • State the intended purpose.
• Climate-related fiscal risks:
  • Identify and disclose main fiscal risks from climate-related events and Oman’s climate agenda.
  • Disclosures should be both qualitative and quantitative.
• Institutional coordination:
  • Strengthen coordination of decision making between central government and other parts of the public sector to support effective fiscal policymaking and fiscal risk management.

Subjects and keywords

• Subject: Capital markets, Financial markets, Financial sector development, Fiscal risks, International organization, Monetary policy, Production, Productivity, Public financial management (PFM), Securities markets
• Keywords: banking sector concentration, banking sector overview, Capital markets, Fed policy rate hike, Financial sector development, Fiscal risks, Global, government bond bond market, government bond market in Oman, Passthrough regression, Productivity, productivity gain, Securities markets

Content in this bundle

• Oman: Selected Issues; IMF Country Report No. 24/32; December 14, 2023
  • Oman: Selected Issues; IMF Country Report No. 24/32; December 14, 2023 (Markdown version)
  • Oman: Selected Issues; IMF Country Report No. 24/32; December 14, 2023 (PDF)