Oman H1 budget deficit surges to $9bn
MUSCAT, August 25, 2016
Oman's government posted a budget deficit of RO3.5 billion ($9.1 billion) in the first half of 2016
compared with a deficit of RO1.92 billion a year earlier, as low oil export prices slashed its revenues, provisional Finance Ministry data showed.
The government's original 2016 budget plan envisaged state expenditure of Ro11.9 billion and revenues of RO8.6 billion. Officials said their 2016 economic plans assumed an average oil price of $45 a barrel. - Reuters