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FINANCIAL NEWS
Oman raises USD2.5bn to meet budget deficit
19 Jun 2016
(MENAFN) Oman raised USD2.5bn in a bond sale organized by five global banks in order to meet its budget deficit resulting from low oil prices.
Moreover, Oman sold USD1bn in bonds to mature in five years at an interest rate of 3.625 percent and a 10 year issue worth USD1.5bn.
Additionally, the Sultanate is aiming a budget deficit of USD8.6bn this year after recoding a shortage of USD11.7bn in 2015.
However, Gulf States have been hit hard by a cash crunch due to a 60 percent fall in oil prices in the past two years.
More News
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BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
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BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
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BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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