Oman 2017 state budget projects smaller deficit

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.