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15-03-14

Oman's budget surplus down to USD700m in Jan

(MENAFN) Official data by the Omani government show that the country's budget surplus shrank in January, Arabian Business reported. The data reveals that the budget surplus went down to USD700.5 million in the month versus a surplus of USD1 billion in January 2013. The drop in the surplus was cited to higher spending and lower oil revenue, the data shows. Budget surplus accounted for 0.9 percent of the Sultanate's 2012 gross domestic product.