Proof that Omani economy is doing well nowadays entails registering budgetary surplus, sizable economic growth rate and solid credit rating.
In details, officials prepared the budget for fiscal year 2012 with a shortage of $3.1 billion (Dh11.4 billion) on the back of expenditures and revenues of $26 billion and $22.9 billion, respectively. However, judged by performance of the first half, most likely the fiscal year would end with a resounding surplus.
Official data put revenues for the half of 2012 at $19.1 billion up from $14.1 billion for the corresponding period in 2011. Concurrently, total expenditures stood at nearly $20 billion almost double the amount for the first six months of 2011.
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