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FINANCIAL NEWS
Oman’s budget deficit reaches USD10.83bn in H1
30 Sep 2016
(MENAFN) Oman’s budget deficit increased and crossed the RO4bn mark for Jan-July period this year as government revenue continued to hurt by weak oil prices.Meanwhile, the deficit grew by 68 percent to RO4.02bn from RO2.39bn in the same period of 2015.On the other hand, net oil revenue declined by 46 percent to RO1.79bn in the cited period of this year from RO3.32bn a year earlier.In addition, the average price of Oman crude oil amid the period reached USD37.6 per barrel against USD60.2 in the same period of 2015.
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