Oman announces OMR11.7b budget expenditure

Business Sunday 01/January/2017 12:55 PM
By: Times News Service
Oman announces OMR11.7b budget expenditure

Muscat: Oman’s government on Sunday announced a budget expenditure of OMR11.7 billion and a total revenue of OMR8.7 billion for 2017, leaving a deficit of OMR3 billion.
The Oman government expects OMR4,450 million from crude oil, OMR1,660 million from natural gas and the remaining from other sources, according to the official gazette released on Sunday.
Also read: His Majesty issues Royal Decree ratifying Oman's 2017 budget
Of the total expenditure, OMR8,500 million is for current expenditure, while OMR2,665 million will be for investment expenditure.
The estimated deficit of OMR3 billion will be met by way of international borrowing (OMR2,100 million), domestic borrowing (OMR400 million) and drawings from State General Reserve Fund (OMR500 million).