The Sultanate of Oman continued to generate more public revenues this year, as oil and gas prices continued to increase, providing an additional fiscal surplus in the state budget.
According to the financial performance bulletin issued by the Ministry of Finance, revenues during the first quarter of this year grew by 6 percent year-on-year to reach 3.2 billion riyals (about 8.3 billion dollars). The ministry attributed the reason for this to the increase in oil revenues, which accounted for about 53 percent of the total public revenues of the state.
The bulletin showed that the Sultanate's general budget recorded at the end of the period between January and March a fiscal surplus of about 450 million riyals ($ 1.1 billion).
Source (Al-Arab Newspaper of London, Edited)
