(MENAFN) Oman"s budget surplus plummeted to USD246.8 million in the six months period ended June 30 down from USD4,160.4 million registering a 94 percent drop, Times of Oman reported.
This drop is cited to a government revenue fall of 4 percent to USD18,324.3 million and the deficit reaching USD286 million.
Oman had its budget for this year placed on oil price of USD85 a barrel with an estimated expenditure of USD33.4 billion and a deficit of USD.4. billion.
Oil revenue increased by 0.2 percent to USD13,700 million, but gas revenue was down 17.6 percent to USD1,785 million. Oil production in Oman for the first half jumped 3 percent to 169.09 million barrels.
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