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FINANCIAL NEWS
Oman’s budget deficit falls by 20pct for Jan-May period
23 Jul 2017
(MENAFN) Oman’s budget deficit for the Jan-May period of this year fell by 20 percent to OMR2.04bn from OMR2.54bn for the same period of last year.
Meanwhile, if the trend continues, market analysts predict the government will be in a comfortable position to control its deficit for the whole year at OMR4bn.
Furthermore, the Oman government has adopted a number of measures to bring down deficit, which involved austerity measures and steps to boost non-oil profits.
In addition, these measures involved the removal of subsidy on petroleum products, a jump in the price of natural gas supplied to industries and others.
MENAFN2307201700450000ID1095649273
MENAFN2307201700450000ID1095649273
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