Non-Oil GDP Share: 70.5% ▲ +9.5pp vs 2017 | QS Ranking — SQU: #334 ▲ ↑28 places | Fiscal Balance: +2.8% GDP ▲ 3rd surplus year | CPI Rank: 50th ▲ +20 places | Global Innovation Index: 69th ▲ +10 vs 2022 | Green H₂ Pipeline: $30B+ ▲ 2 new deals 2025 | Gross Public Debt: ~35% GDP ▲ ↓ from 44% | Digitalised Procedures: 2,680 ▲ of 2,869 target | Non-Oil GDP Share: 70.5% ▲ +9.5pp vs 2017 | QS Ranking — SQU: #334 ▲ ↑28 places | Fiscal Balance: +2.8% GDP ▲ 3rd surplus year | CPI Rank: 50th ▲ +20 places | Global Innovation Index: 69th ▲ +10 vs 2022 | Green H₂ Pipeline: $30B+ ▲ 2 new deals 2025 | Gross Public Debt: ~35% GDP ▲ ↓ from 44% | Digitalised Procedures: 2,680 ▲ of 2,869 target |

Fiscal Policy

Ministry of Finance

Oman's Ministry of Finance manages the state budget, public debt, fiscal policy coordination, and government financial reporting. The dramatic fiscal turnaround from -11.7% GDP deficit (2017) to surplus (2022-2024) reflects its central role in Vision 2040's macroeconomic stability priority.

Feb 21, 2026

Oman Fiscal Surplus (2022-2024)

Oman achieved fiscal surpluses in 2022, 2023, and 2024 — a dramatic reversal from the -11.7% GDP deficit of 2017. The turnaround reflects higher oil prices, VAT revenue, expenditure discipline, and improved fiscal management under Vision 2040.

Feb 21, 2026

Oman Credit Rating Analysis

Detailed analysis of Oman's sovereign credit ratings, fiscal trajectory, and implications for investment-grade status.

Feb 21, 2025

Oman Excise Tax | Oman Guide

Guide to excise tax in Oman covering taxable goods, rates, and compliance requirements.

Feb 21, 2025

Oman Tax System Overview | Oman Guide

Complete overview of Oman tax system including corporate tax, VAT, withholding tax, and excise.

Feb 21, 2025

What is Fiscal Sustainability? | Oman Explained

Understand fiscal sustainability in the context of Oman oil-dependent public finances and reform agenda.

Feb 21, 2025

What is VAT in Oman? | Oman Explained

Comprehensive guide to Value Added Tax in Oman including rates, exemptions, and compliance.

Feb 21, 2025
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