Oman to borrow USD10bn from overseas markets

25 Oct 2016

(MENAFN) Oman aims to borrow USD10bn from overseas markets in the coming four years in order to meet budget deficit in the severe fall in oil revenue.

However, a fall in oil prices has caused a large deficit in the budget since last year, while the government has to look for ways to meet these challenges.

Accordingly, between 60-70 percent of the budget deficit will be met by way of external borrowings, while drawings from State General Fund will cut deficit.

The Sultanate’s debt-to-gross domestic product (GDP) ratio is low compared to several developing countries.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more