The country’s fiscal and debt positions strengthened in 2022 on the back of higher oil prices and budget consolidation measures
The initiative follows years of political tensions that have stymied efforts to diversify the country’s economy and promote foreign investment
Salaries and subsidies in the 2020-21 fiscal year accounted for 73 per cent of spending
Saudi Arabia raised $800m from the recent sale of two flour mills, which followed two other mill sales of $740m last year
Total expenses during that period are projected at KD114.1bn
To generate liquidity, the government began last year swapping its best assets for cash with the $600bn Future Generations Fund
The kingdom will stick to its plan to cut spending by 7.3 per cent in 2021
Besides signing a bridge loan for OMR770m and issuing OMR550m in development bonds this year, Oman has also been tapping its reserves and privatising some assets
The government could still face a budget deficit of over 13 per cent of gross domestic product in 2020
The sultanate’s dollar-denominated bonds have lost 1.6 per cent this year, the worst performer in the region
Kuwait raised $8bn in March 2017 in its first sale of international bonds
The 10-year bonds yield 7.375 per cent, a substantial yield premium that has attracted more than $7.5bn so far