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FINANCIAL NEWS
Oman’s Jan-Aug fiscal surplus surges 77% to USD1.90b
23 Oct 2011
(MENAFN) Oman’s ministry of national economy said that in the January-August period, the country’s fiscal surplus surged by 77 percent to USD1.90 billion from USD1.08 billion in 2010’s same period, reported Emirates 24/7.
The ministry added that the increase in the surplus resulted from higher oil prices accompanied with a rise in crude production during the period; moreover, the country’s earnings from oil exports hiked 62 percent to around USD14.3 billion compared with USD8.80 billion.
It also said that in 2011’s first eight months, the government increased its actual expenditure by 11.7 percent to USD13.5 billion, compared with USD12 billion a year earlier.
It is worth noting that Oman’s actual revenue reached USD18.78 billion, with
an increase of 42 percent from 2010’s USD13.2 billion as a result of high oil income.
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