Oman's general budget for 2023 estimates oil price at $55 per barrel

The state’s general budget for 2023 will be approved at an oil price of $55 per barrel, the Minister of Finance said in a statement. This came during a media presentation of the state's general budget for the year 2023, with the participation of several departments, including the Ministry of Economy, the Ministry of Commerce, Industry and Investment Promotion, and the Oman Investment Authority. The Ministry of Finance estimates that the 2023 budget deficit will amount to about OMR1.3 billion, constituting 11 percent of total revenues and 3 percent of the GDP.