Mubasher: The government of the Sultanate of Oman may reconsider the budget of 2016in the middle of the year according to the movements of oil prices, according to a report by the research division of Oman Arab Bank.
The report, released on Thursday, said that 2016’ budget is completely different from last years’ one, as the government rose taxes and reduced subsidies and expenses.
It also expected improvement in the country’s growth domestic product during the second half of 2016, and a rise in inflation due to increasing local fuel prices.
Exchange rate is expected to be flat as long as the government is able to manage the balance of payments through successful funding.
