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FINANCIAL NEWS
Oman’s budget surplus hits $4.17bn for H1
18 Aug 2012
(MENAFN) Central Bank of Oman (CBO) said in a recent report that Oman’s budget surplus hit USD4.17 billion during the first half of 2012, up from USD1 billion a year earlier, Oman News Agency (ONA) reported.
The CBO report showed that government revenues for the period grew 35.4 percent to USD19.14 billion from USD14.14 billion a year earlier, while spending rose by 14 percent to USD14.97 billion.
The report also showed that the Sultanate’s gross domestic product (GDP) at current prices grew by 18.9 percent to USD19.4 billion during the first quarter of 2012 from USD16.1 billion a year ago.
According to the statistics, nominal GDP generating from the petroleum sector grew by 25.7 percent, while non-petroleum sector GDP expanded by 12.4 percent in the quarter.
Inflation rate in the small non-Opec oil producer dropped to 3.1 percent during the January-June period compared to four percent a year ago.
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