The ratio of the general budget deficit of the Sultanate of Oman to the GDP at current prices was 13.5 percent by the end of the third quarter of 2020, as the value of the deficit recorded in the Sultanate's general budget increased by 58.5 percent, registering about 2.4 billion Omani riyals compared to 1.5 billion Omani riyals at the end of the same quarter from the previous year.
According to the report issued by the National Center for Statistics and Information, total revenues decreased by 24.4 percent, registering about 6 billion Omani riyals by the end of the third quarter of 2020 compared to about 7.9 billion Omani riyals at the end of the third quarter of the previous year, while the total public spending of the Sultanate decreased by 10.9 percent. Registered 8.5 billion Omani riyals.
The gross domestic product (GDP) at current prices decreased by 16.5 percent, recording a value of 18.2 billion Omani riyals compared to 21.8 billion Omani riyals at the end of the third quarter of 2019, as this decrease is mainly attributed to the decrease in the value added of oil activities by 24.4 percent. As for non-oil activities, they decreased by 12.4 percent by the end of the third quarter of 2020 compared to the same quarter of the previous year, to record about 13.2 billion Omani riyals.
Source (Ad-Dustour Newspaper-Jordan, Edited)