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Oman's budget surplus dips to USD1.59b in Q1  Join our daily free Newsletter

MENAFN - 07/06/2014
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(MENAFN) Oman's budget surplus declined to USD1.59 billion in the first quarter of this year, down from USD2.41 billion registered in the same period last year, Times of #Oman reported.

According to the information from National Centre for Statistics and Information, net oil revenue declined by 4.7 percent, hitting USD6.69 million from USD7.03 million, attributed to a fall in international oil prices.


Although oil production edged up by 1.1 per cent to 113.09 million barrels in the first quarter, average price of #Oman crude fell by 2.2 per cent to USD105.73 per barrel from USD108.07 per barrel.

As a result, the Sultanate's total revenue in the first quarter fell by 7 per cent to USD 8.32 million from USD 8.95million, while total expenditure was up by 2.9 per cent to USD 6.73 million.

 
 


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