Oman faces sizeable and persistent twin de cits and the prospect of a meagre growth outlook, while succession risk hangs over the sultanate.

Economic risk (HIGH): Higher prices following cuts in Opec production quotes may help reduce the scal and current account de cits. The Government is still looking to issue bonds despite falling to junk status.

Political risk (MEDIUM): Oman is using its chairmanship of the GCC to maintain the minimum level of technical work and commitments between the six-nation body and Qatar. Iran and Oman are aiming for $1bn of trade in 2019.

Financial risk (LOW): The central bank has issued a recovery and resolution regime for banks. The stock market is into a third year of declining values.

Commercial risk (MEDIUM): Investors still face a number of obstacles to set up a business in Oman. The government has adopted important reforms in the areas of commercial law and arbitration and licensing procedures.