Sovereign fund-led economy: Oman takes a page from Saudi Arabia

Al-Monitor Readers

Sebastian Castelier

Freelance journalist covering Gulf economies 

May 3, 2024

Efforts by the new Omani leadership to enhance efficiency in the public sector are paying off. Last month, S&P Ratings lifted Oman’s outlook to positive from stable on improving fiscal landscape and successes in deleveraging the country and its state-owned enterprises. Part of the shift in sentiment results from Oman’s decision to follow Saudi Arabia’s path in centralizing control of state-owned enterprises into a sovereign wealth fund.