Mubasher: Oman’s budget deficit increased in the first half of 2016 by 82.3% to OMR 3.5 billion, compared to OMR 1.92 billion in the same period of 2015.
The country’s total revenue declined in H1-16 by 32.1% to OMR 3.1 billion from OMR 4.5 billion for H1-15, due to the fall in oil revenues by 47.7% year-on-year.
The Sultanate’s gas revenues reached OMR 607 million in the first six months of 2016, falling by 13.7% year-on-year. Corporate income tax also fell by 12.6% y-o-y, according to figures released on Monday by the National Centre for Statistics and Information (NCSI).
Total public expenditure retreated 3.2% y-o-y to OMR 5.6 billion.
