{
  "title": "Oman: 2024 Article IV Consultation - Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, January 22, 2025",
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  "summary": "This 2024 Article IV Consultation highlights that supported by favorable hydrocarbon revenues and steadfast reform efforts, Oman’s economy continues to expand amidst low inflation. Fiscal and external surpluses continued in 2024 and are expected over the medium term.",
  "sections": [
    {
      "heading": "Macroeconomic overview and outlook",
      "content": "- Supported by favorable hydrocarbon revenues and steadfast reform efforts, Oman’s economy continues to expand amidst low inflation.\n- Fiscal and external surpluses continued in 2024 and are expected over the medium term.\n- The 2025 budget is set to preserve fiscal discipline, further lowering the nonhydrocarbon primary deficit, while maintaining spending on social safety nets broadly unchanged relative to 2024.\n- Sustained implementation of reforms under Oman Vision 2040 will be key to achieving sustainable, job rich, and private sector-led nonhydrocarbon growth."
    },
    {
      "heading": "Banking sector and financial stability",
      "content": "- The banking sector remains sound.\n- Profitability has recovered to pre-pandemic levels.\n- Capital and liquidity buffers are ample.\n- Asset quality remains strong.\n- Banks’ net foreign assets turned positive by end of 2023 for the first time since 2014.\n- Continued efforts are underway to strengthen regulatory and supervisory frameworks."
    },
    {
      "heading": "Fiscal and social policy",
      "content": "- The authorities continue pursuing prudent fiscal management, amidst the successful rollout of the social protection law.\n- The new social protection law has been successfully rolled out.\n- Labor market reforms are ongoing, supported by the new labor law."
    },
    {
      "heading": "Key thematic subjects covered",
      "content": "- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- Crime\n- Oil prices\n- Prices\n- Public debt\n- Revenue administration"
    },
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      "heading": "Publication and document identifiers",
      "content": "- Pages: 76\n- Volume: 2025\n- Issue: 013\n- Series: Country Report No. 2025/013\n- DOI: https://doi.org/10.5089/9798400298318.002\n- Stock No: 1OMNEA2025001\n- ISBN: 9798400298318\n- ISSN: 1934-7685\n\nOman: 2024 Article IV Consultation-Press Release; and Staff Report (IMF Staff Country Reports 2025, 013).\n\n---\n\n Content in this bundle\n\n- 1omnea2025001-print-pdf\n  - 1omnea2025001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1omnea2025001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 22, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400298318.002",
    "Supported by favorable hydrocarbon revenues and steadfast reform efforts, Oman’s economy continues to expand amidst low inflation.",
    "Fiscal and external surpluses continued in 2024 and are expected over the medium term.",
    "The 2025 budget is set to preserve fiscal discipline, further lowering the nonhydrocarbon primary deficit, while maintaining spending on social safety nets broadly unchanged relative to 2024.",
    "Sustained implementation of reforms under Oman Vision 2040 will be key to achieving sustainable, job rich, and private sector-led nonhydrocarbon growth.",
    "The banking sector remains sound.",
    "Profitability has recovered to pre-pandemic levels.",
    "Capital and liquidity buffers are ample.",
    "Asset quality remains strong.",
    "Banks’ net foreign assets turned positive by end of 2023 for the first time since 2014.",
    "Continued efforts are underway to strengthen regulatory and supervisory frameworks.",
    "The authorities continue pursuing prudent fiscal management, amidst the successful rollout of the social protection law.",
    "The new social protection law has been successfully rolled out.",
    "Labor market reforms are ongoing, supported by the new labor law.",
    "Pages: 76",
    "Volume: 2025",
    "Issue: 013",
    "Series: Country Report No. 2025/013",
    "DOI: https://doi.org/10.5089/9798400298318.002",
    "Stock No: 1OMNEA2025001",
    "ISBN: 9798400298318",
    "ISSN: 1934-7685",
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