(MENAFN) Oman announced it posted a budget surplus of USD647.40 million for the January-June period of 2014 compared to a surplus of USD 246.78 million registered in the corresponding period of last year, Muscat Daily reported.
During the cited period, the sultanate's total revenue increased by 1.7 percent to USD 18.61 billion compared to USD 18.30 billion posted in the same period of 2013, due to a decline in net oil revenue, which dropped to reach USD 13.67 billion against USD 13.69 last year.
Together, oil and gas accounted for 83 percent of Oman's total revenue, despite the country's total oil exports dropping 5.2 percent to 143.87 million barrels in the first six months of 2014 although oil production grew by one percent rise to reach 170.8 million barrels.
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