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FinancialNews


  • 02-12-18

    Oman: high oil income reduces deficit

    (MENAFN) Oman's budget deficit reduced 36.1 percent to RO1.91bn during January-September duration of 2018 because an increase in government incomes driven by higher oil income.

    The sultanate's budget deficit for the same period of last year was much higher at RO3bn, according to the latest figures issued by the National Centre for Statistics and Information (NCSI).

    Total incomes of the government increased 29.9 percent to RO7.75bn in the first nine months of this year over the same duration of 2017, thanks to a major recovery in oil prices.

    As a consequence of upsurge in oil prices, Oman's net oil income rose 44 percent to RO4.76bn during January-September period of 2018 compared to RO3.3bn recorded in the same period of 2017, the NCSI data showed.

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