Oman will privatise three state-owned companies next year, Finance Minister Darwish al-Balushi told Reuters on Thursday, declining to give further details.

Gulf governments are expected to consider privatising state assets as they seek to raise cash at a time of lower oil prices, which have hit their revenues.

Oman posted a budget deficit of RO2.68 billion ($6.97 billion) in the first eight months of this year, against a 205.7 million rial surplus a year earlier, because of lower oil export prices.-Reuters