IMF report on Oman’s economy: Non-oil sector growth, 3.3% budget surplus, public debt reduction, and controlled inflation

Muscat – June 3, 2025, The International Monetary Fund (IMF) concluded its preliminary meetings with the Omani government by praising the country’s sustained economic growth. According to the report, Oman achieved a 3.3% budget surplus and a real GDP growth of 1.7% in 2024.

This growth was mainly driven by the strong performance of non-oil sectors, including manufacturing, tourism, logistics, and renewable energy. Growth is projected to reach 2.4% in 2025 and 3.7% in 2026. Inflation remained well-controlled, recorded at just 0.9% during the first four months of 2025.

The IMF also supported fiscal reforms, the reduction of public debt to 35.5% of GDP, and improved governance of state-owned enterprises. The Central Bank of Oman welcomed the positive assessment and reaffirmed its commitment to financial stability and supporting Oman Vision 2040.