Taking advantage of Oman’s international credit rating and low interest rates prevailing abroad, it would be meaningful to consider international borrowing more to finance government deficits rather than drawing from reserves, according to the Central Bank of Oman (CBO). In its mid-year review of Oman economy released on Wednesday, the CBO said that with a proper mix of financing options, the government would be able to finance higher deficits envisaged under the scenario of lower oil prices. According to the CBO, Oman’s aggregate government debt expanded to OMR2.76bn as of the end of September 2015 from OMR1.53bn at the end of December 2014. The CBO report mentioned that in order to attract higher foreign investment flows for sustaining economic growth in the wake of low oil prices, Oman’s foreign capital investment law is undergoing revisions. (Muscat daily)