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Print edition: 2017-01-02
Oman 2017 state budget projects smaller deficit, continued austerity
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A 2017 state budget plan released by Oman's government on Sunday projected a smaller deficit but maintained tight curbs on spending because of low oil prices, which are hurting state revenues.
Government spending this year is projected to total 11.7 billion rials ($30.4 billion) and revenues 8.7 billion rials, which would result in a deficit of 3 billion rials.
That compares with the government's original 2016 budget plan of 11.9 billion rials in spending, 8.6 billion rials in revenues and a 3.3 billion rial deficit. The actual deficit has turned out to be much bigger than expected this year; it was 4.8 billion rials in the first 10 months of 2016, according to official data.
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No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017