A bad one for...

Gulf Business - - NEWS AND VIEWS -

Af­ter post­ing a bud­get deficit of $10.5bn in the first seven months of 2016, Oman’s gov­ern­ment said it would cover 60-70 per cent of the deficit with in­ter­na­tional bor­row­ing. The rest will be fi­nanced lo­cally by draw­ing down fi­nan­cial re­serves, and the gov­ern­ment is also in the process of diver­si­fy­ing the econ­omy.

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