Oman's state news agency has said the Sultanate's budgeted spending is expected to increase by 12% to RO7.18bn in 2010, Reuters has reported. The Sultanate expect revenues of RO6.38bn, based on a projected oil price of $50 a barrel. With an economy, based mainly on oil and gas, the Sultanate has sold its oil at an average of $51.85 a barrel between January and September.
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