Arab News, Monday, Apr 5, 2021 | Shaaban 22, 1442
Oman budget revenues down after 35% decline in net oil income
Oman:
Oman’s general budget revenues fell in the first two months of 2021 as net oil
income dropped 35 percent, Asharq Business reported, citing Ministry of Finance
data.
General spending fell 8.8 percent until the end of February 2021 compared to the
same period of 2020, despite an 8.1 percent increase in current revenues.
The Sultanate public spending retreated as some budget lines shrank according to
the monthly bulletin issued by the Ministry of Finance.
The deficit amounted to about OR456.6 million ($1.2 billion), the official
bulletin added.
The total revenues reached SR1.92 billion Omani by the end of February, down by
about 21.6 percent on the year-earlier period.
The Omani budget recorded a decrease in gas revenues by 2 percent, according to
the bulletin.