Oman’s public expenditure grows by 5.6%


Oman's public finance expenditure grew by 5.6 per cent to reach OMR9.42 billion by the end of October 2017, compared to OMR8.92 billion during the corresponding period last year, according to data released by the National Centre for Statistics and Information.

Gross revenue grew by 19.2 per cent to hit OMR6.57 billion by the end of October 2017, compared to OMR5.51billion in October 2016.

In October-end 2017, the state's public finance, after calculating the means of finance, registered a surplus of OMR1.75 billion; a growth of 219.2 per cent compared to the surplus at the end of October 2016, which stood at OMR550.6 million.

Out of the finance means used by the Sultanate, whose value as of October-end 2017 stood at OMR4.95 billion, net borrowing stood at OMR4.10 billion, whereas the net local borrowing was OMR350 million. The reserves stood at OMR500 million.