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FINANCIAL NEWS
Oman’s investment income to fall by 60pct
15 Jan 2017
(MENAFN) Oman government is predicting a substantial drop in investment income this year, due to a decline in yield and drawing on reserves in recent years to meet budget deficits.
Moreover, income from government investment is predicted to fall by 60 percent to OMR200mn this year, from as high as OMR500mn in the proposed 2016 budget.
Meanwhile, the Omani government aims to borrow OMR2.1bn from overseas markets, OMR400mn from the local market and OMR500mn by way of drawing on the sovereign fund.
On the other hand, profit from corporate income taxes is estimated to fall to OMR400mn, involving a 23 percent fall from the 2016 budget proposal of OMR520mn.
M
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