His Majesty ratifies budget for 2019

T TV Tuesday 01/January/2019 23:29 PM
By: Times News Service

His Majesty Sultan Qaboos has issued a decree authorising the ratification of the state budget for the fiscal year 2019, with a total estimated at just over OMR10 billion.
The estimated total revenue for 2019 is calculated on a base oil price of $58 per barrel, and is valued at around OMR10.1 billion.
The total public expenditure is estimated at OMR12.9 billion, an increase of OMR400 million from the estimated expenditure for 2018.
It is estimated that the deficit of the budget of 2019 is about OMR2.8 billion, or 9 per cent of Gross Domestic Product.