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FINANCIAL NEWS
Oman to sell 19 pct of its stake in Omantel
18 Sep 2013
(MENAFN) Oman will sell 19 percent of its stake in Oman Telecommunications Company (Omantel), the biggest mobile telecom operator in Oman, in order to raise USD595 million and support non-oil income, according to Gulf Daily News.
Oman’s sale plan aims to add more companies under the state’s control, according to analysts.
The International Monetary Fund expects the budget deficit to reach 0.9 percent by the end of 2015 and boost up to 6.8 percent in 2018. As a result, containing the state spending in Oman may be a solution to maintain the fiscal balance stable.
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