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Mon 23 Sep 2019 09:55 AM

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Oman has not discussed any Gulf aid package, says Central Bank

Central Bank president Tahir Al Amri said that from the bank's perspective, the answer is 'categorically no'

Oman has not discussed any Gulf aid package, says Central Bank
Al Amri added that the finance minister has not discussed any aid package either, but from the perspective of Oman’s central bank, the answer is “categorically no”.

Oman has not discussed any aid package with its GCC allies, the president of its central bank was quoted as saying on Sunday.

“Not from ours side. I have not discussed anything,” Tahir Al Amri was quoted as saying by Reuters.

Al Amri added that the finance minister has not discussed any aid package either, but from the perspective of Oman’s central bank, the answer is “categorically no”.

According to analysts, Oman’s fiscal position remains weak, with its debt rated as junk by global rating agencies.

In August, however, figures released by the sultanate’s National Centre for Statistics and Information (NSCI) showed that Oman’s budget deficit dropped to the lowest level in five years.

The statistics showed that Oman’s budget deficit declined by 53 percent to RO 660.6 million ($1.71mn) in the first half of 2019, compared to a RO 1.4 billion ($3.63bn) during the same time last year.

Largely due to higher revenues from oil, gas and corporate tax, total government revenues rose 11.4 percent to RO 5.515 billion ($14.32bn) between January and June, up from RO 4.948 billion ($12.85bn) during the first half of 2018.

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