Oman plans to sell US$2b sukuk

DUBAI: Oman plans to sell US$2 billion (RM8.66 billion) of Islamic bonds this month as it seeks to trim a budget deficit caused by lower oil revenue, said Finance Minister Darwish Al Balushi. The crude exporter’s budget deficit would reach 12 per cent of economic output this year and would continue to narrow in the coming years, he said. “We are confident that our economy is heading in the right direction because the government has taken several measures for economic and fiscal reform,” he said.