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FINANCIAL NEWS
Oman may increase spending this year if needed
24 Jan 2012
(MENAFN) Omani Finance Minister Darwish Al Balushi said the government is mulling state expenditures increase in 2012 if needed , Reuters reported.
The minister added that the Sultanate does not have any plans to issue sovereign bond, whether it is Islamic or conventional.
Earlier this month Balushi announced plans to increase budget spending by 26 percent to USD140 billion by 2015 to create jobs and improve living standards.
In November, the consultative Shura Council Okayed the 2012 budget draft, with estimated expenditures of USD25.8 billion and revenue of USD22.8 billion.
In September, Balushi expected inflation to reach 4 percent this year.
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