## Oman: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman

_IMF Staff Country Reports, January 29, 2024_

## Source details

**Canonical URL:** [Oman: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Oman](https://www.imf.org/en/publications/cr/issues/2024/01/29/oman-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-544165)

## Other formats

- [Markdown version](/en/publications/cr/issues/2024/01/29/oman-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-544165/index.md)
- [Structured JSON version](/en/publications/cr/issues/2024/01/29/oman-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-544165/index.json)
- [Bundle manifest](/en/publications/cr/issues/2024/01/29/oman-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-544165/bundle-manifest.json)

## Bibliographic details
- Published: January 29, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400266195.002

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### Macroeconomic overview and outlook
- Oman’s economic recovery continues while inflation remains contained.
- Recovery is supported by favorable oil prices and sustained reform momentum.
- Risks to the economic outlook are balanced.

### Banking sector resilience
- Profitability has recovered to prepandemic levels.
- Capital and liquidity ratios are well above regulatory requirements.
- Nonperforming loans remain low and sufficiently provisioned.
- Stress tests suggest that banks are resilient to credit and liquidity shocks.

### Structural reform priorities (Oman Vision 2040)
- Sustaining the reform momentum under Oman Vision 2040 is key to:
  - building resilience;
  - boosting prospects for more inclusive, diversified, and sustainable private sector-led non-hydrocarbon growth.
- Required further efforts:
  - improve institutional quality;
  - reduce the state footprint;
  - enhance the business environment.
- These reforms are expected to help amplify productivity gains from labor market and financial development reforms.

### Social, digital, and climate policy actions
- Steadfast implementation of the new social protection and labor laws is called for.
- Leveraging digitalization is recommended.
- Accelerating green investments and advancing policies to meet climate commitments are emphasized.

### Subjects and keywords (as listed)
- Subject: Expenditure, Fiscal policy, Fiscal stance, Government asset and liability management, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration
- Keywords: arrangements in Oman, article IV consultation mission, Fiscal stance, Global, Government asset and liability management, liability positions vis-à-vis nonresident, Omani authorities, SOE divestment drive, state footprint

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## Content in this bundle

- **1. Recent Economic Developments**
  - [1. Recent Economic Developments (Markdown version)](/-/media/files/publications/cr/2024/english/1omnea2024001.pdf.md){rel="alternate" type="text/markdown"}
  - [1. Recent Economic Developments (PDF)](/-/media/files/publications/cr/2024/english/1omnea2024001.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2024/01/29/oman-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-544165_