(MENAFN) Oman aims to borrow USD10bn from overseas markets in the coming four years in order to meet budget deficit in the severe fall in oil revenue.
However, a fall in oil prices has caused a large deficit in the budget since last year, while the government has to look for ways to meet these challenges.
Accordingly, between 60-70 percent of the budget deficit will be met by way of external borrowings, while drawings from State General Fund will cut deficit.
The Sultanate's debt-to-gross domestic product (GDP) ratio is low compared to several developing countries.
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