Oman’s budget deficit down 50% in 2010

10 Mar 2011

(MENAFN) Central Bank of Oman issued its monthly bulletin that showed that the country’s budget deficit went down by almost fifty percent due to the increase in oil prices as well as oil production which increased the country’s revenue, reported Emirates 24/7.

The central bank stated that deficit amounted to USD1.14 billion, compared to estimations of USD2.08 billion.

The bank pointed out that the country was able to decrease its deficit even though spending increased strongly.

The country reported actual revenue in 2010 at USD20.3 billion, and spending at around USD22.6 billion, USD6.2 billion of which were spent on investments.

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