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  • 03-01-22

    Oman assigns USD31.5b budget for this year

    (MENAFN) Oman has approved its yearly budget for this year, designated 12.13 billion Omani riyals (USD31.5bn) for expenditure, with an emphasis on main public facilities, from health to social assistance, boosting investment.

    According to the country-run Oman News Agency (ONA) statement on Sunday, 2022’s budget, which is a surge on last year's budget of 12.167bn riyals (USD31.5), is centered around a crude cost prediction of USD50 for a barrel.

    Based on ONA, the government predicts its profit to hit 10.58bn riyals (USD27.4b) during this year, with over half (68 per cent) stemming from crude and gas profit of 7.24bn riyals (USD18.7b). Non-oil profit is predicted to hit 3.34bn riyals (USD8.6), or 32 per cent of overall government profit.

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