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Sunday, 11 June 2017

The mixed signals Oman’s economy is hearing | GulfNews.com

The mixed signals Oman’s economy is hearing | GulfNews.com:

"The Omani economy has been getting quite a few mixed signals from the international business community. On the one hand, the sultanate managed to sell bonds worth $5 billion (Dh18.3 billion), a success that even shocked keen followers of Omani economy. On the other, a mainline rating agency decided to downgrade the sovereign rating reflecting its concerns about the external financial position. In March, international investors gave a vote of confidence by purchasing bonds of $ billion of 5-, 10- and 30-year tranches. The subscribed amount stood at $20 billion, signalling global interest — and confidence — in the Omani economy. Undoubtedly, the need for raising funds in the international market was in place. The authorities prepared the 2017 budget with expenditures and revenues of $30 billion and 22.3 billion, which translates into a sizeable shortfall, or about 10 per cent of the GDP. "



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