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FINANCIAL NEWS
Oman’s budget deficit grows as oil revenue falls by 41pct
19 Dec 2016
(MENAFN) Oman’s budget deficit increased to reach RO4.8bn for the Jan-Oct period of this year, while the shortfall reached RO4.42bn at the end of Sep.
However, total public spending dropped to 8.6 percent on a year-on-year basis, while the budget gap for the Jan-Oct period of this year was 47.6 percent.
In addition, the government’s total incomes declined by 25.5 percent to RO5.51bn in the cited period of the year, whereas net oil revenue fell by 41 percent.
Moreover, public expenditure fell to RO8.92bn, compared with RO9.76bn in the cited period a year earlier.
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