Oman may be rowing back on an austerity plan to fix its shaky finances in the face of protests over unemployment but investors are cutting the Gulf state's new ruler some slack for now.
By Syndicated Content
By Davide Barbuscia and Lisa Barrington
DUBAI (Reuters) â Oman may be rowing back on an austerity plan to fix its shaky finances in the face of protests over unemployment but investors are cutting the Gulf stateâs new ruler some slack for now.
Sultan Haitham, who acceded to the throne in January 2020, promised last week on the third day of rare demonstrations in several towns and cities to create 32,000 jobs and subsidise private companies that take on Omanis.
But the move did not trigger any major drop in the price of Omanâs bonds, with investors saying some flexibility in its fiscal adjustment was expected to guarantee social stability in a country also hit by protests over jobs and corruption in 2011.
DUBAI: Oman may be rowing back on an austerity plan to fix its shaky finances in the face of protests over unemployment but investors are cutting the Gulf state’s new ruler some slack for now. Sultan Haitham, who acceded to the throne in January 2020, promised last week on the third day of rare demonstrations in several towns and cities to create 32,000 jobs and subsidise
Oman may be rowing back on an austerity plan to fix its shaky finances in the face of protests over unemployment but investors are cutting the Gulf state's new ruler some slack for now.