The sultanate had originally planned to raise US$2 billion on the Chinese market but raised the amount because of strong demand, the finance ministry said.
The loans aim to cover the deficit in the 2017 budget, deputy finance minister Nasser al-Jishmi was quoted by the official news agency ONA as saying.
Oman, a non-OPEC producer which pumps a modest 1 million barrels per day, in January announced a deficit of 3 billion riyals (RM33.4 billion) and vowed to press on with an austerity programme to combat the global slump in oil prices. — AFP
Source: The Malay Mail Online