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Omani Budget Surplus Increases 26% with Growth of Oil Revenues

The Sultanate of Oman announced, on Tuesday, that its public budget surplus increased by about 26 percent on an annual basis in the first quarter of 2023, with the growth of its net oil revenues. The Omani Ministry of Finance said in a report that the general budget recorded a surplus of about 450 million riyals ($1.2 billion) at the end of the first quarter of 2023, compared to a surplus of 357 million riyals in the same period of 2022. It added that the Sultanate’s total revenues increased by 6 percent to reach 3.2 billion riyals in the first three months of the year, compared to 3.02 billion a year ago, while spending rose 4 percent to 2.767 billion riyals from 2.6 billion.

Link: https://english.aawsat.com/business/4320551-omani-budget-surplus-increases-26-growth-oil-revenues

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