Oman’s fiscal surplus quadrupled in the first six months the year as increased hydrocarbon production and higher crude oil prices more than offset a jump in public spending, the sultanate’s economy ministry said in a report posted on its website.
Oman’s first half fiscal surplus reached 1.606 billion Omani riyals (Dh15.3 billion), up from 386.6 million riyals in the year earlier period, official numbers showed.
Income from gas rose 66 to 837.2 million riyals, while oil revenue increased 35 per cent to 7.37 billion riyals. Public spending meanwhile surged 46 per cent in the first half to 5.76 billion riyals.
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