Oman Slashes Public Debt

MUSCAT, Oman (AP) — Oman has achieved a significant milestone in its efforts to consolidate its finances by trimming its public debt to $37. 6 billion. This represents a substantial reduction from the peak debt levels experienced in recent years.

The Sultanate's success is attributed to its prudent fiscal management strategies, which encompass streamlining expenditures and initiatives to diversify the economy. These measures have been instrumental in achieving this positive development.

Analysts posit that the lighter debt burden will afford Oman greater financial flexibility to invest in critical infrastructure projects and social programs, further propelling economic growth and development.

However, some experts warn that continued adherence to fiscal discipline is essential to safeguard the country's long-term financial health.

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