Oman posts $1.1bn budget surplus in Jan-March

17 May 2010

According to data by Oman's economy ministry, higher oil prices helped the Sultanate's budget swing to a surplus of OR421.2m ($1.09bn) in the first quarter to the end of March, Reuters has reported. Oman booked a deficit of OR16.6m in the same period a year ago and a gap of OR22.9m in the two months to the end of February. Revenue jumped 47.9% to OR1.996bn in the first quarter from a year ago, while expenditures were up 15.3% at OR1.575bn, the data showed.

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