Oman raises spending by 30 per cent in 2013

02 January 2013

Increases in social spending drive Oman budget higher

Oman has said it will spend almost 30 per cent more in 2013 than it planned to spend in the previous year as expenditures on education, health, housing and social welfare are to increase in the wake of anti-government protests in 2011.

The budget for 2013 forecasts spending of RO12.9bn ($33.5bn) with revenues of RO11.2bn, although actual revenues are expected to be higher as a result of the budget assuming oil prices of $85 a barrel.

The Finance Ministry also said that from January to October in 2012, state finances were in a $7.3bn surplus, despite the budget for that year forecasting a RO1.2bn deficit. Spending in 2012 was forecast at RO10bn 12 months ago, but the Finance Ministry says it expects spending for the year to have been about RO13bn.

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