MUSCAT: The Ministry of Finance has announced that it plans to repay loans worth more than OMR 2.85 billion by end of April as part of reducing the state’s public debt.
In a statement issued, the ministry said the surplus from the “high average selling prices of oil” will be used to reduce the financial deficit and reduce the cost and risks of the public debt portfolio as approved in the state’s general budget for 2022.
“The commitment to pay the installments due for this year is about OMR 2.7 billion,” the ministry said.
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The ministry said it is working to benefit from some of the financial surpluses to stimulate economic growth, according to the directives of His Majesty Sultan Haitham Bin Tarik.
