April 2, 2013 / 6:36 AM / 5 years ago

Oman finance minister: pressure to boost spending is decreasing

DUBAI, April 2 (Reuters) - Pressure for Oman to keep increasing its state spending every year is decreasing because the country has finished building most of the infrastructure it needs, finance minister Darwish al-Balushi said on Tuesday.

Speaking to reporters at a meeting of Arab finance ministers and central bank governors in Dubai, he also said his government did not now plan to issue conventional bonds or sukuk this year.

Oman’s central bank chief Hamood Sangour al-Zadjali had said last month that the government was likely to issue its first sukuk, denominated in rials, towards the end of 2013 or at the start of next year.

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