Oman 2017 state budget projects smaller deficit
January 01 2017 01:06 PM
Oman

Reuters/Muscat

A 2017 state budget plan released by Oman's government on Sunday projected a smaller deficit but maintained tight curbs on spending because of low oil prices, which are hurting state revenues.
Government spending this year is projected to total 11.7bn rials ($30.4bn) and revenues 8.7bn rials, which would result in a deficit of 3bn rials.
That compares with the government's original 2016 budget plan of 11.9bn rials in spending, 8.6bn rials in revenues and a 3.3bn rial deficit.
The actual deficit has turned out to be much bigger than expected this year; it was 4.8bn rials in the first 10 months of 2016, according to official data.



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