Oman's general budget achieved a surplus of 936 million riyals ($2.43 billion) in 2023 and was directed towards boosting social spending, stimulating economic growth, reducing public debt, and managing financial obligations, according to the Oman News Agency.
The actual performance of the state's general budget for the past year showed an increase in public revenues by 25 percent, to reach about 12.5 billion riyals ($ 32.5 billion), compared to the approved budget estimates of approximately 10.05 billion riyals ($ 26.13 billion), due to the increase in oil and non-oil revenues. Total public debt declined to 15.3 billion riyals ($39.78 billion) until the end of 2023, down by 2.3 billion riyals ($5.98 billion) compared to 2022, as a result of the Ministry of Finance managing government obligations and repaying part of the loans.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
