With oil prices at a record high, the Sultanate of Oman will use the surplus revenues to support the government spending on more projects and reduce public debt.“Any surplus.
Muscat: Over the past few years, the national economy experienced frequent fiscal challenges posed by a sharp drop in oil prices, lower oil demand, high public debt, and the implications caused by the Covid-19 pandemic.These challenges have adversely affected the Sultanate of Oman’s creditworthiness and borrowing cost.Moreover, the Sultanate of Oman was.