WorldNews Posted January 2, 2017 Share Posted January 2, 2017 http://www.offtopic.forum/data/MetaMirrorCache/5d6c25fe6cfc20f1f4634173b8715147.jpgOman on Sunday said it will need to borrow money from local and international markets as it announced its budget for 2017 with a projected deficit of around $7.7 billion. A finance ministry statement said the sultanate, which like other oil-producing Gulf states has been hit by a cash crunch because of a sharp drop in oil prices, will also follow a policy of austerity. Oman will therefore seek to borrow locally and abroad to finance 84 percent of the deficit, as well as dig into its foreign reserves to cover the remaining 16 percent, the statement said. Continue reading... Quote Link to comment Share on other sites More sharing options...
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