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FINANCIAL NEWS
Oman’s budget deficit hits OMR5bn in 2016
15 Feb 2017
(MENAFN) Oman’s budget deficit for last year reached OMR5bn as falling crude oil export incomes started affecting financial balance.
Moreover, the Sultanate has enhanced its overseas borrowings in order to meet the deficit as the government does not want to disturb the liquidity situation.
In addition, the country’s whole profit for last year was OMR7.3bn, whereas total expenditure reached OMR12.3bn.
Meanwhile, Oman’s crude oil and condensate production increased 2.6 percent to 367.56mn barrels in 2016, from 358.10mn barrels in 2015.
MENAFN1502201700450000ID1095249262
MENAFN1502201700450000ID1095249262
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