Oman has piled up debt over the past few years and is rated below investment-grade by all major credit rating agencies. The government said the new subsidy system for electricity and water will exclude households earning more than $3,260 a month. Families with income of less than $1,300 will continue to receive government support in utility bills, the government media office said in a statement. The new plan will start running in January and eligible Omanis have to apply starting on Sunday. Low oil prices and the economic slowdown caused by the coronavirus outbreak have strained the finances of Oman, a relatively small energy producer.

Source: Dhaka Tribune December 20, 2020 10:41 UTC