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FINANCIAL NEWS
Oman budget deficit swells to USD 4.14bn in Q1
27 Jun 2016
(MENAFN) Oman’s budget shortfall swelled in the Jan-March period of this year from a year earlier, as the oil-price slump sapped gov’t revenue.
Meanwhile, the deficit widened to USD 4.14bn from USD 1.41mn, while government revenues dropped by almost USD 2.58bn.
On the other hand, net oil revenues fell 48.7 percent to USD 2.2mn in the cited quarter of 2016 from USD 4.32bn in the same period of 2015.
Recently, the Sultanate raised USD2.5bn in a global bond sale arranged by fibe global banks to help meet its budget deficit.
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