## Oman: 2024 Article IV Consultation - Press Release; and Staff Report

_IMF Staff Country Reports, January 22, 2025_

## Source details

**Canonical URL:** [Oman: 2024 Article IV Consultation - Press Release; and Staff Report](https://www.imf.org/en/publications/cr/issues/2025/01/22/oman-2024-article-iv-consultation-press-release-and-staff-report-561155)

## Other formats

- [Markdown version](/en/publications/cr/issues/2025/01/22/oman-2024-article-iv-consultation-press-release-and-staff-report-561155/index.md)
- [Structured JSON version](/en/publications/cr/issues/2025/01/22/oman-2024-article-iv-consultation-press-release-and-staff-report-561155/index.json)
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## Bibliographic details
- Published: January 22, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400298318.002

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### Macroeconomic overview and outlook
- 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.

### Banking sector and financial stability
- 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.

### Fiscal and social policy
- 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.

### Key thematic subjects covered
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Crime
- Oil prices
- Prices
- Public debt
- Revenue administration

### Publication and document identifiers
- 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

*Oman: 2024 Article IV Consultation-Press Release; and Staff Report (IMF Staff Country Reports 2025, 013).*

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_Source: https://www.imf.org/en/publications/cr/issues/2025/01/22/oman-2024-article-iv-consultation-press-release-and-staff-report-561155_