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Gulf Region

Oman says expat workforce fell by 200,000 in year to March
World

Oman says expat workforce fell by 200,000 in year to March

  • "Expatriates employed in the government sector fell from 53,332 to 49,898. While expatriates employed in the private sector dropped from 1,608,781 to 1,403,287."
  • Oman posted a deficit of 827 million rials ($2.15 billion) in the four months to April, the ministry said on Wednesday, with revenues declining by 27.7% annually during the period.
Published 02 Jun, 2021 07:19pm
Oman, Saudi Arabia exposed to declining uplift from wealth funds: Moody's
Business & Finance

Oman, Saudi Arabia exposed to declining uplift from wealth funds: Moody's

  • The ratings agency expects oil prices to remain below their trajectory prior to the COVID-19 pandemic as a result of lower demand in sectors like aviation, resulting in higher deficits among Gulf states.
  • Under most plausible scenarios, the level of SWF coverage of government debt stocks will fall significantly for Saudi Arabia and Oman, weakening their fiscal strength over the medium term.
Published 10 Feb, 2021 07:35pm