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FinancialNews


  • 02-01-16

    Oman reduces 2016 spending by 15.6 percent

    (MENAFN) Oman will cut this year spending by 15.6 percent because of lower oil prices, but still facing a huge lack after posting one last year.

    Moreover, spending is predicted at USD 30.9bn this year, compared with USD 36.6bn.

    Additionally, incomes are projected at USD 22.3bn, down a huge 26 percent from last year.

    While global oil prices pared ended 2015 sharply lower as the "black gold" was battered by global oversupply.

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