Sunday 13 May 2012

Oman budget surplus widens to $2 bln in Jan-Feb | Reuters

Oman booked a budget surplus of 768 million rials ($2 billion) in the first two months of 2012 as robust oil prices boosted revenue, finance ministry data showed on Sunday.

The surplus is equivalent to about 2.7 percent of the sultanate's 2011 nominal gross domestic product, according to Reuters calculations. The country posted a surplus of 467 million rials in January.

Analysts polled by Reuters in March expected the non-OPEC oil producer to post a fiscal surplus of 5.0 percent of GDP in 2012 thanks to high crude prices, up from 3.5 percent last year.

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