Oman's Budget Surplus Increases by 26% as Oil Revenues Grow

  • Muscat, Sultanate of Oman
  • 10 May 2023
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Oman's budget surplus rose by about 26 percent year-on-year in the first quarter of this year, as its net oil revenues grew.

According to the Omani Ministry of Finance, the general budget recorded a surplus of about 450 million riyals ($ 1.2 billion) at the end of the first quarter, compared to a surplus of 357 million riyals in the same period of 2022. The Sultanate's total revenue increased 6 percent to 3.2 billion riyals in the three months compared to 3.02 billion a year ago, while spending rose 4 percent to 2.767 billion riyals from 2.6 billion.

Source: (Asharq Al-Awsat Newspaper, Edited)

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