Surplus from oil revenues to be used to repay country’s debt: Oman

Surplus from oil revenues to be used to repay country’s debt: Oman

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Sohar – The government, under the wise leadership of Sultan Haitham bin Tarik, seeks to use the surplus from oil revenues to repay country’s debt. This is in addition to spending on the development projects.

In his meeting with sheikhs from the governorates of North Batinah, Dhahirah and Buraimi at Bait Bahjat Al Andhar on Wednesday, His Majesty said, “Any surplus resulting from the high oil revenues will be used as much as possible to settle the country’s debt while looking at spending on development.”

He added that the increase in spending above the approved five-year plan will have priority in basic facilities such as building new schools, maintaining what is currently in place, and expanding some roads and hospitals all of which will contribute to facilitate the economic growth.

“The state’s development plans are progressing as planned and are in in the interest of the country and the citizens. The government has always worked to serve the interests of the citizens,” His Majesty said.

“We are witnessing conflicts around the world but the most important thing is to focus on the interest of our country and contribute to the efforts to develop our region,” he added, stressing that Oman’s foreign policies are fruitful