#Oman ok's 2023 budget, had 1.146 billion rials 2022 surplus | Reuters

Oman ok's 2023 budget, had 1.146 billion rials 2022 surplus | Reuters

Oman's Sultan ratified a 2023 budget with a deficit of 1.3 billion Omani rials ($3.38 billion) or 3% of GDP, the finance ministry said on Sunday, adding that the 2022 budget achieved a surplus of 1.146 rials.

The 2023 budget sees revenues of 10.05 bln Omani rials, 5% lower than 2022, and expenditures of 11.35 bln rials, 6.4% lower the previous year.

Higher oil prices boosted 2022 revenues to 14.234 billion rials, the finance ministry said. Last year's budget had been based on a forecast price of $50 per barrel but the government now estimates the average price in 2022 to be $94.