(MENAFN- Muscat Daily) Investment expenditure in the sultanate registered a 7.4 per cent growth in the first half of this year to hit RO1.4bn an increase of RO95.6mn from a year earlier.
Investment spending for civil ministries rose to RO805.2mn from RO719.8mn while for oil and gas production it stood at RO575.4mn in the first six months of 2014 an increase of RO7.5mn from the same period last year.
Capital expenditure for civil ministries increased from RO10.2mn to RO12.9mn.
The government allotted RO3.2bn for investment expenditure in 2014 including RO1.8bn for development expenses and RO1.4bn for oil and gas production.
The growth in investment expenditure comes at a time Oman is focussing on diversifying sources of revenue. Recent MEED estimates placed the value of projects under way at about US$127bn in addition to more than US$80mn worth of projects being executed at different stages of completion.
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