Oman to sell bonds valued at USD388m 

(MENAFN) Oman's Finance Minister, Darwish Al Balushi, said that in 2011, the country would sell five or seven year sovereign bonds with the value of USD388 million, reported Times of Oman.

Al Balushi added that the money raised from the bonds' sale would be used for development projects, on the other hand, next year, the government would sell bonds with a value of USD388 million or USD517.7 million.

He also said that in 2011, the country's economy would be forecasted to grow 5.5 percent, furthermore, if oil prices would surpass USD80 a barrel, in 2012, the country's economy would maintain the same level as in this year.

It is worth noting that during the current five-year plan, Oman's inflation rate will be 4 percent.