Challenges of the new King of Oman

Published 3 months ago

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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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