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FINANCIAL NEWS
Oman’s budget deficit grows to OMR4.9bn
22 Jan 2017
(MENAFN) Oman’s budget deficit increased to 21.4 percent amid Jan-Nov period of 2016, reaching OMR4.9bn.
Accordingly, the budget deficit for the whole 2016 year may reach OMR5.3bn, an increase of 60 percent over the budget proposal.
However, as the oil price is showing recovery, jumping up above USD50 per barrel level this year, it is unlikely that the deficit will remain low.
On the other hand, the Sultanate’s net oil income for the cited period plunged by 38.4 percent to OMR3.092.2mn from OMR5.021.5mn for 2015.
M
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