Challenges of the new King of Oman
Published 3 months ago
The new King of Oman may change the government’s economic approach. The largest Arab crude producer outside the Organization of Petroleum Exporting Countries, Oman’s finances have been battered by a slump in oil prices. The country plans to borrow OMR2bn ($5.2bn) to bridge the bulk of its 2020 budget deficit, which is expected to reach OMR2.5bn this year. He will also face many challenges due the crisis in the Gulf region.
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