Oman forecasts USD6b deficit in 2015

06 Apr 2015

(MENAFN) Omani government is expecting a deficit in budget of around USD6 billion this year, according to the calculations from the country’s 2015 budget plan, Funds Global reported.

The forecast comes from the government’s expected spending budget of USD36.6 billion and revenues of around USD30.05 billion, leaving the estimated and ensued USD6 billion deficit.

The deputy general manager of investment banking and financial institutions at Bank Muscat predicts that the deficit can be covered and financed by the country’s cash reserves.

“The government has pointed out that there will be no slowdown on the investment projects such as the railway and other infrastructure project across the main sectors during 2015,” the deputy said.

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