The Sultanate of Oman achieved a budget surplus of 147 million riyals by the end of April this year. The Sultanate's public revenue recorded 3.744 billion riyals, down 15 percent year-on-year in the mentioned period. Public spending fell 7 percent year-on-year to about 3.6 billion riyals. The total support for the social protection system, oil products and the electricity sector until the end of April amounted to about 365 million riyals, while the transfer to the provision for debt repayment amounted to 133 million riyals.
Fitch Ratings had expected Oman to return to a budget deficit with government debt rising marginally if Brent crude fell to $70 a barrel in 2025 and $65 a barrel in the following years, according to its estimates.
Source (CNBC Arabia, Edited)
