oman projects 33b riyal deficit for 2016
Monday 14 July 2025
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Oman projects 3.3b riyal deficit for 2016

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleOman projects 3.3b riyal deficit for 2016

Currently the deficit is 4.8b riyals but the government aims to bring it
Muscat - Arab today

Oman has posted a deficit of 4.8 billion riyals in the first ten months of 2016, as revenues declined by 25 per cent due to the slide of the oil prices, according to the National Centre for Statistics and Information (NCSI) figures.

The revenues stood at 5.5 billion riyals by the end of October this year, compared to 7.4 billion riyals of the same period last year, due to the decline of oil and gas revenues.

Moreover, the total general spending has declined by 8.6 per cent, reaching 8.9 billion riyals, compared to 9.7 billion riyals of the same period last year, due to austerity measures taken by the Omani government to rationalise spending amid the slump of the oil prices.

The current spending on security defence and national security has climbed by 3.6 per cent, reaching 1.7 billion riyals until the end of October this year.

Meanwhile, the Ministry of Financial Affairs said that it will unveil the 2017 General Budget in January

Oman’s 2017 budget will not include any cut in wages and salaries as well as the basic services provided to citizens, Saleh Musin, the head of Economic Committee of Shura Council said earlier.

In November, the Shura Council discussed the 2017 budget with the Minister Responsible for Financial Affairs, Darwish Al Beloushi, in a closed session.

The 2016 budget projects 3.3 billion Omani riyals (Dh31.47 billion) in deficit spending for 2016, which, it says, it will try to reduce by improving the non-oil revenues as well as cutting expenditures.

Oman posted a budget deficit of 4.5 billion riyals in 2015, as revenues declined by more than 50 per cent.

The ministry of Finance has issued 19 circulars so far this year aimed at controlling and managing spending.

Oman, a modest oil producer among Gulf Cooperation Council states with not more than one million barrels a day, needs oil prices of more than $100 a barrel to balance its budget

source : gulfnews

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oman projects 33b riyal deficit for 2016 oman projects 33b riyal deficit for 2016

 



Themuslimchronicle, themuslimchronicle

GMT 17:32 2017 Thursday ,30 November

Bahrain weather forecast

GMT 10:15 2017 Sunday ,17 December

Several injured in attack at Church in SW Pakistan

GMT 10:36 2017 Monday ,27 November

Artist donates faeces to gut-busting research

GMT 11:06 2017 Wednesday ,29 March

Top-seed Wawrinka ousted at Miami Open

GMT 07:45 2017 Thursday ,23 November

Lebanon's Hariri tells supporters 'I'm staying with you'

GMT 08:28 2015 Monday ,20 April

Ahly dues' crisis to be resolved soon

GMT 14:56 2017 Monday ,02 October

King Salman to lead high-level delegation to Russia

GMT 12:37 2017 Monday ,13 November

U.S Congress expresses support for Peshmerga

GMT 23:16 2017 Thursday ,21 December

EU seeks 'urgent' response

GMT 09:30 2017 Thursday ,14 September

Cassini readies final plunge into Saturn

GMT 09:41 2017 Friday ,17 November

Bombardier wins up to $2.2 bn CSeries orders

GMT 11:38 2017 Monday ,25 September

Siemens and Alstom on brink of rail merger: report

GMT 21:51 2017 Monday ,04 December

Rise and fall of Yemen’s Ali Abdullah Saleh

GMT 17:15 2017 Sunday ,19 March

Wydad's coach express his confidence

GMT 03:02 2016 Wednesday ,21 December

Arab Parliament Speaker slams Iranian statements

GMT 11:25 2017 Friday ,14 July

Five Egypt police shot dead
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle