The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Oil keeps Oman on debt binge with $6.2 billion plan for 2019

Pubdate:2019-01-03 13:48 Source:liyanping Click:

NEW YORK (Bloomberg) -- Oman’s government, whose budget deficit is among the largest of all the sovereigns tracked by Fitch Ratings, will tap capital markets for a fourth straight year to plug a fiscal gap vulnerable to lower oil prices.

The Persian Gulf nation is looking to raise $6.2 billion (2.4 billion rials) internationally and at home, according to a state budget plan published on the Oman News Agency. Borrowing will cover 86% of the country’s $746 million (2.8 billion-rial) shortfall, with the remaining $106.6 million (400 million rials) to be drawn from the country’s reserves.

After ending a two-decade absence from international capital markets three years ago, Oman has grown increasingly reliant on borrowing and fallen behind on efforts to reform its economy after oil prices collapsed in 2014. As a result, debt as a share of gross domestic product more than tripled to near 50%.

The focus on foreign borrowing last year was to “avoid crowding out the private sector in meeting its financing needs, as well as to enhance foreign currency cash flows and reserves,” the Finance Ministry said in the budget statement. The remainder of the 2018 deficit was covered from reserves, it said.

The yield on Oman’s debt due 2028 has soared to about 7.5%, the most since the securities were sold in January 2018.

Raising funds in the future may get even more expensive after Oman’s sovereign rating was downgraded last month to one level below investment grade by Fitch, which warned that fiscal deficits are leading to a sharp deterioration in its sovereign and external balance sheets. It expects government debt to continue climbing and reach 58% of GDP by 2020 from 48% in 2018.

S&P Global Ratings has Oman two levels into junk with a stable outlook, while Moody’s Investors Service puts it at the lowest investment grade with a negative view.

Here are other highlights from Oman’s 2019 budget: Deficit is expected at $746 million (2.8 billion Omani rials), or 9% of GDP, versus $773 million (2.9 billion rials) in 2018 Revenue is projected at $2.69 billion (10.1 billion rials), down from a preliminary estimate of $2.7 billion (10.3 billion) rials at end-2018 Spending is set to reach $3.4 billion (12.9 billion rials), compared with around $3.5 billion (13.2 billion rials) last year The country’s external borrowing in 2018 accounted for 69% of its total funding, while domestic loans represented 17%.

The sultanate, which was expected to raise $7.5 billion from debt sales in 2018, ended up only borrowing $6.5 billion in January as higher oil prices helped boost revenue. The country has raised $18 billion from the sale of dollar bonds since the start of 2016, data compiled by Bloomberg show.

主站蜘蛛池模板: 14萝自慰专用网站| 国产亚洲综合精品一区二区三区| 伊人网综合在线视频| 一级三级黄色片| 黄色免费在线网址| 欧美激情综合网| 好男人影视社区www在线观看| 国产女人91精品嗷嗷嗷嗷| 久久精品成人国产午夜| 18禁无遮挡羞羞污污污污免费| 欧美视频免费在线| 女人18毛片a级毛片免费视频 | 狠狠噜天天噜日日噜视频麻豆| 怡红院免费全部视频在线视频| 午夜无码人妻av大片色欲| 一区二区视频在线播放| 色播在线观看免费| 日韩欧美卡一卡二卡新区| 国产国语在线播放视频| 亚洲av无码专区在线观看下载 | 亚洲色欲久久久综合网东京热| a毛片免费观看完整| 精品久久久久久久久久中文字幕| 日本一道本高清| 午夜激情小视频| a级毛片在线免费观看| 欧美精品一区二区精品久久 | 国产亚洲精品国产福利在线观看| 中日韩国语视频在线观看| 精品视频一区二区三区四区五区| 女人扒开腿让男生猛桶动漫| 亚洲精品乱码久久久久久按摩 | 亚洲色图第一页| 1024在线观看国产天堂| 日韩在线播放中文字幕| 四虎网站1515hh四虎免费| xarthunter| 欧美大杂交18p| 国产精品小青蛙在线观看| 久久综合九色综合欧美狠狠| 成人自拍视频网|