Behind the figures: Why Oman's economy is set to thrive both now and in the future | Al Bawaba:
"There are numerous indicators that suggest, and rightly so, that the Omani economy is doing just fine. This is evidenced by the posting of a satisfactory surplus in 2013 and the absence of a serious public debt problem.
Other notable developments entail the clinching of an open skies agreement with the US. New statistics from official sources point to a budgetary surplus in excess of $1 billion (Dh3.67 billion) for fiscal 2013. The welcome development is attributed to a growth in revenues and a marked decline in expenditures. This is in comparison to a shortfall of $209 million posted in 2012.
Turning to the 2014 budget, revenues and expenditures are projected at $30.4 billon and $35.1 billion, which would lead to a deficit of $4.7 billion. Certainly, the assumed deficit is substantial by virtue of representing around 6 per cent of the country’s $78 billion GDP."
'via Blog this'
No comments:
Post a Comment