Oman’s conservative 2016 budget | GulfNews.com

Oman’s conservative 2016 budget | GulfNews.com:

"Oman’s budget for fiscal year 2016 takes into account unwelcome realities of the oil market. Last week, oil prices dropped to below $35 a barrel, the lowest in 11 years.

With regards to fiscal year 2016, projected statistics call for expenditures of $30.9 billion and revenues of $22.3 billion, and thus a deficit of $8.6 billion.

The figures do not compare positively with original 2015 statistics, which assumed expenditures and revenues of $36.6 billion and $30 billion, respectively, and ensuing deficit of $6.6 billion."



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