Wednesday 7 September 2011

Oman spending to rise to $24 bln in 2011 - Fin Min | Energy & Oil | Reuters

Oman's government spending should rise to 9.2 billion rials ($23.9 billion) this year, slightly higher than expected, but the Gulf Arab oil exporter will be comfortable if Brent crude stays above $80 per barrel, its finance minister said on Tuesday.

The small non-OPEC oil producer has been hit by protests demanding jobs, higher salaries and an end to graft this year as unrest spread through the Arab world, making it boost expenditure well above the original plan.

"Now, it is 9.2 billion rials," Darwish al-Balushi told Reuters about government spending in 2011, speaking ahead of a Wednesday meeting of Arab finance ministers in the capital of the United Arab Emirates.

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