UPDATE 1-Oman 2018 state budget lifts spending; little to reassure rating agencies

UPDATE 1-Oman 2018 state budget lifts spending; little to reassure rating agencies:

"Oman’s state budget for 2018, approved by ruler Sultan Qaboos on Monday, boosts spending at the expense of running a large deficit, despite increasing concern among credit rating agencies about the health of the country’s finances. The budget projects spending of 12.5 billion rials ($32.5 billion) this year, up from 11.7 billion in the original budget for 2017, local media quoted a Finance Ministry statement as saying. Revenue are projected at 9.5 billion rials, up from 8.7 billion in the 2017 budget. That leaves a planned deficit of 3 billion rials this year, the same as last year’s projected deficit."



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