Oman bud­get deficit grows to $12.5 bil­lion

Kuwait Times - - BUSINESS -

MUS­CAT: Oman’s gov­ern­ment posted a bud­get deficit of 4.81 bil­lion ri­als ($12.5 bil­lion) in the first 10 months of 2016 com­pared with a deficit of 3.26 bil­lion ri­als a year ear­lier, as low oil ex­port prices hit its rev­enues, pro­vi­sional Fi­nance Min­istry data showed yes­ter­day. The gov­ern­ment’s orig­i­nal 2016 bud­get plan en­vis­aged state ex­pen­di­ture of 11.9 bil­lion ri­als and rev­enues of 8.6 bil­lion. Of­fi­cials said their 2016 eco­nomic plans as­sumed an av­er­age oil price of $45 a bar­rel.

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.