gulfnews : Oman will raise spending, plans bond issue

Oman's government spending will rise slightly next year, after a sharp increase this year as the country boosted social spending, Finance Minister Darwish Al Balushi said yesterday.

Al Balushi said budget spending this year would total about 9.1 billion Omani riyals (Dh87 billion), up from an original plan of 8.1 billion riyals. The country increased spending after a wave of social unrest prompted by Arab Spring political protests across the region.

Next year's spending will be "a little more" than 9.1 billion riyals, Al Balushi said, speaking on the sidelines of a meeting of Gulf finance ministers and central bankers.

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