Sunday, 26 May 2019

#Oman outlook: Sovereign debt continues to climb as pace of change remains slow | ZAWYA MENA Edition

Oman outlook: Sovereign debt continues to climb as pace of change remains slow | ZAWYA MENA Edition:

Illuminated in an eerie blue light as they float past coral, the fish swimming around Muscat's newest visitor attraction may not be enough to reel in the punters and steer Oman's floundering economy away from the rocks.

For the tourists frequenting the vast Oman Aquarium which opened in April, even the presence of diving turtles and penguins cannot disguise the fact that many of the shops in the surrounding Mall of Muscat remain boarded up.

Property brokers say that many retailers are waiting to see how difficult trading conditions, driven by a sluggish economy and declining expat population pan out this year before taking the plunge.

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