Connect with us

Popular World News

Oman not in talks with Gulf countries for financial aid, sees growth at 1.1% By Reuters

Macron says EU-Mercosur trade deal meets French demands By Euronews


Oman not in talks with Gulf countries for financial aid, sees growth at 1.1% By Reuters

Oman not in talks with Gulf countries for financial aid, sees growth at 1.1%

By Davide Barbuscia
KUWAIT (Reuters) – Oman is not in discussions with Gulf countries for any aid package, an official said, despite a large fiscal deficit and expectations of a slowdown in economic growth this year.
“Not from our side. I have not discussed anything,” Tahir Al Amri, executive president of the central bank, told reporters in Kuwait ahead of a banking conference this week.
The Gulf state’s finances have been hurt by a slump in oil prices in recent years.
The central bank estimates real gross domestic product growth at 1.1% this year, down from an estimated 2.2% last year, it told Reuters in a statement late on Sunday.
Despite its access to financial markets – with a well received $3 billion bond issuance in July – Oman’s fiscal position remains weak and its debt is rated junk by rating agencies.
But Amri said the deficit was decreasing, partly thanks to more control on spending.
“The deficit has gone down. There is a little bit of control on spending and we’ve got a little bit more money from the excise tax.”
Amri also reiterated Oman’s commitment to the rial’s peg against the U.S. dollar, saying it provides stability.
“There are no plans to change the monetary policy with regards to the exchange rate. We believe we can support it.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


To Top
error: Content is protected !!