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FINANCIAL NEWS
Oman aims 80pct funding from private sector
27 Oct 2016
(MENAFN) Oman plans to attract 80 percent of funding for developing projects that will help spread the economy to minimize state funding in view of dwindling oil revenue.
Moreover, these projects are applied in many sectors that are prioritized by the government in order to diversify sources of revenue away from oil and gas.
Accordingly, the target is to let the private sector funding in these projects outrun the public sector by an 80 to 20 ratio.
The Sultanate managed to identify 112 projects in many sectors for diversification, but it depends on the budget allocation.
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