FINANCIAL NEWS

Oman budget deficit hits USD937m in 2014

26 Mar 2015

(MENAFN) Oman’s government recorded a budget deficit of USD937 million in 2014 against a USD1.03 billion surplus in 2013, according to governmental financial data, Reuters reported.

Omani budget revenues were recorded at USD35.34 billion in 2014, whereas revenues of 2013 were logged at USD36.44 billion. The gap between the two years’ expenditure marked the difference in results.

The Omani original 2014 budget plan was basing on an oil price of USD85 per barrel and thus projected expenditure of USD34.93 billion and a deficit of USD4.65 billion for the year.

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