Oman's general budget recorded a surplus of about 1.144 billion riyals ($2.97 billion) by the end of 2022. Actual revenues increased by 37 percent compared to estimated revenues to record 14.473 billion riyals ($37.7 billion), while actual public spending was 13.329 billion riyals ($34.7 billion). While the total actual expenditures of development projects for ministries and civil government units recorded about 1.306 billion riyals, up by 406 million riyals compared to the approved budget allocations.
Through additional fiscal revenues, the Omani government is accelerating economic growth, increasing subsidies for fuel and basic commodities, reducing public debt, and managing the lending portfolio, the Oman News Agency reported.
Source (Al-Arabiya.net Website, Edited)
