Mubasher: Oman’s oil revenue plummeted 45.5% year-on-year in the first nine months of 2015, according to figures by the Omani National Center for Statistics and Information (NCSI).
Revenues fell to about OMR 4.2 billion in the first nine months, compared to OMR 7.8 billion in the same period last year.
The figures also showed a 19% fall in customs duties. Meanwhile, corporate income tax and capital revenues dropped 2.6% and 8.8%, respectively.
Total revenues hit OMR 6.7 billion in the January-September period of 2015, versus OMR 10.4 billion in the same time a year ago.
Oil and gas production expenses rose by 23.2% and 95.2% respectively for the period, while the total public spending slipped 5.7%. Investment expenses, however, moved 0.1% up.
The budget deficit came to OMR 2.4 billion, versus a surplus of OMR 55 million in the first nine months of 2014.
