#Oman’s budget deficit sees 24.7% decrease | ZAWYA MENA Edition

Oman’s budget deficit sees 24.7% decrease | ZAWYA MENA Edition:

Revenue in Oman is on the rise and the deficit is plummeting, according to data released by the National Centre for Statistics and Information.

A recent report shows that Oman’s government budget deficit had plunged 24.7 per cent to OMR1.4 billion by the end of August this year, down from OMR1.8 billion the previous year.

At the same time, the government’s total revenue surged 6.9 per cent to OMR 7.1 billion for the first eight months of 2019, thanks to a major recovery in oil prices.