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: 国产亚洲AV人片在线观看| 十八岁的天空完整版在线观看| 午夜免费不卡毛片完整版| 亚洲一卡2卡4卡5卡6卡残暴在线 | 国产免费小视频| 亚洲精品人成在线观看| 久久九九99热这里只有精品| 91高清免费国产自产| 老师吸大胸校花的奶水漫画| gogo全球高清大胆亚洲| 成人免费高清完整版在线观看| 香蕉视频禁18| 王爷晚上含奶h嗯额嗯| 日本乱偷互换人妻中文字幕| 国产美女口爆吞精普通话| 午夜精品一区二区三区免费视频| 中文字幕乱码人在线视频1区| 久草福利在线观看| 毛片大片免费看| 少妇大胆瓣开下部自慰| 国产做无码视频在线观看| 久久只这里是精品66| 久热中文字幕在线精品免费| 日韩精品亚洲人成在线观看| 国产精品福利自产拍在线观看| 伦理片中文字幕完整视频 | 玉蒲团之风雨山庄| 在线毛片免费观看| 免费无遮挡肉动漫在线观看| 中文国产成人精品久久96| 蜜臀av性久久久久蜜臀aⅴ麻豆| 无遮挡很爽很污很黄在线网站| 国产成人综合日韩精品无| 狠狠精品干练久久久无码中文字幕 | 91精品欧美综合在线观看| 欧美精品v国产精品v日韩精品| 久久文学网辣文小说| 天天躁夜夜躁很很躁| 国产色视频在线| 亚洲综合视频网| 一区二区三区四区欧美|