High oil prices helped Oman post a budget surplus of RO3.22 billion ($8.4 billion) in 2012, a turnaround from a deficit of RO113.2 million in 2011, data from the finance ministry showed on Thursday.
The surplus is equivalent to 12 per cent of the Sultanate's 2011 gross domestic product, according to a Reuters calculation based on the latest official data.
Minister for Financial Affairs Darwish al-Balushi had estimated last month that actual 2012 state expenditure was about RO13 billion, which would have produced a budget surplus of about RO1 billion.
The finance ministry did not explain why its data was so different from the minister's initial estimate.
Read more: http://www.gulfbase.com/news/oman-posts-8-4bn-budget-surplus-for-2012/229261
The surplus is equivalent to 12 per cent of the Sultanate's 2011 gross domestic product, according to a Reuters calculation based on the latest official data.
Minister for Financial Affairs Darwish al-Balushi had estimated last month that actual 2012 state expenditure was about RO13 billion, which would have produced a budget surplus of about RO1 billion.
The finance ministry did not explain why its data was so different from the minister's initial estimate.
Read more: http://www.gulfbase.com/news/oman-posts-8-4bn-budget-surplus-for-2012/229261
No comments:
Post a Comment