Oman has released treasury bills worth $72.2 million, offering returns of up to 4.3%
Oman’s Ministry of Finance recently sold Treasury bills worth $72.2 million (OMR 27.80 million) in an auction. The bills have different maturity periods and interest rates, according to the Oman News Agency.
Here’s the same information in simpler English:
New T-bills
The government issued two sets of Treasury bills (T-bills). The first one raised about $779,358 (OMR 300,000) for a period of 28 days. The price for this set was $259.1 (OMR 99.7) for every $259.8 (OMR 100), with a discount rate of 3.91% and a yield of 3.92%.
The second set raised $71.4 million (OMR 27.5 million) for a 91-day period. The price for this set was $257.1 (OMR 98.9) for every $259.8 (OMR 100), with a discount rate of 4.21% and a yield of 4.26%.
T-bills are short-term investments used by the government to manage money and pay for expenses.
The Central Bank of Oman (CBO) manages these T-bills. It also helps with liquidity by offering repurchase agreements (Repo) at a 5% rate and discounting facilities at 5.5%.
Oman’s Treasury bills are important in helping set interest rates for short-term loans and are used by the government to cover regular expenses when needed.
Oman’s 2025 Budget
Oman’s budget for 2025 estimates a total revenue of $29.04 billion (OMR 11.2 billion) and spending of $30.65 billion (OMR 11.8 billion), resulting in a deficit of $1.6 billion (OMR 620 million), which is 5.5% of the total revenue.
Spending is expected to increase by 1.3% from last year, and revenue is expected to grow by 1.5%, assuming the oil price stays at $60 per barrel.
The government plans to pay back $4.8 billion (OMR 1.8 billion) in debt in 2025, and the cost of servicing that debt is expected to drop to $915 million (OMR 2.4 billion).
Oil revenue is expected to rise by 24.3% to $20.1 billion (OMR 7.5 billion), while gas revenue is expected to increase by 14.3% to $4.7 billion (OMR 1.8 billion), according to the Finance Minister, Sultan bin Salim bin Said al-Habsi.
Published: 27th January 2025
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