The volume of foreign assets held by the Central Bank of Oman increased by the end of the first half of this year by about RO 287 million ($ 746 million), to reach RO 6.6 billion ($ 17.1 billion), which provided an indication of strong support for the government's fiscal sustainability program.
According to data from the National Center for Statistics and Information, gold bullion represents one of the most important assets that the Central Bank of Oman has increased. This is attributed to several factors, including high oil prices, raising the efficiency and returns of government and sovereign investments, declining debt risks, and the increasing role of the private sector and new investments in achieving sustainable growth and diversifying sources of public revenues.
According to IMF estimates, this volume of foreign assets covers the equivalent of 4.7 months of expected imports, thus exceeding the size of assets held by the Central Bank of Oman as determined by the international standards for the adequacy of foreign reserves.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
