Oman not in talks with Gulf countries for Financial Aid
Oman was not present in discussions among the Gulf countries for any aid package, an official said, despite a large fiscal deficit and the expectation of a slowdown in economic growth in the year.
“Not from our side. I have not discussed anything,” Tahir Al Amri, Executive President of the Central Bank, told reporters in Kuwait ahead of a banking conference this week.
The Gulf state’s finances have been hurt by a slump in oil prices in recent years despite its access to financial markets – with a well received $3 Billion bond issuance in July.
Amri said that the deficit was decreasing, partly thanks to more control on spending.
“The deficit has gone down. There is little bit of control on spending and we’ve got a little bit more money from the excise tax,” Amri further added that “there are no plans to change the monetary policy with regards to the exchange rate. We believe we can support it.”