Tuesday 17 / June / 2025
Muscat: The Ministry of Finance has stated in the annual report that Oman's actual revenues for the year 2020 amounted to over 8 billion, public expenditures of more than 12 billion was recorded, and the deficit for the end of 2020 amounted to more than 4 billion.
“The total actual revenues collected in 2020 amounted to about 8 billion and 503.2 million Omani Riyals, a decrease of 20.5 per cent from the approved budget,” Oman News Agency, (ONA), said.
“The actual total public spending for the year 2020 amounted to about 12 billion and 925.7 million Omani Riyals, down from the approved budget by OMR 274 million or 2.1 per cent.”
“Current expenditures in 2020 amounted to about OMR 9 billion and 467 million as a result of the precautionary measures taken to confront the repercussions of the COVID-19 pandemic and the sharp drop in global oil prices. The total actual spending on development projects for civil government ministries amounted to one billion and 71,8 million Omani Riyals, a decrease of 128.2 million compared to the approved budget for 2020.”
The actual deficit by the end of 2020 witnessed a rise of OMR 4 billion, 442.5 million, i.e. an increase of 77 per cent over the estimated deficit in the approved budget of about 2.5 billion OMR.
The total means of financing collected by the end of 2020 amounted to about OMR 4 billion and 422.5 million, an increase of 76.9 per cent over what was approved in the budget, as OMR 3 billion and 34.7 million were financed through external and local debt instruments and OMR 500 million were withdrawn from the State General Reserve Fund.
