Oman fiscal deficit at OMR 1.1 billion

Muscat: Oman has witnessed a decrease in spending by 3.3 per cent and registered a deficit of OMR 1.1 billion in the first half of 2021.

The Oman News Agency said: "The revenues collected in the state's general budget at the end of the first half of 2021 amounted to about OMR 4.3 billion, recording a decrease of 9.7 per cent compared to the same period in 2020."

The monthly bulletin issued by the Ministry of Finance showed a decrease in the state’s public spending during the first six months of this year by 3.3 per cent to reach OMR 5.4 billion, compared to the same period last year, which amounted to OMR 5.6 billion.

The fiscal deficit in the budget until the middle of 2021 amounted to about OMR 1.1 billion, which represents 25.1 per cent of the actual deficit for 2020 and 49.5 per cent of the approved deficit in 2021.

The total means of financing received, including withdrawals from the Oman Investment Authority, amounted to about OMR 3.3 billion, and the foreign and domestic loans paid out amounted to about OMR 1.3 billion.