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Oman reduces 2016 spending by 15.6 percent
(MENAFN) Oman will cut this year spending by 15.6 percent because of lower oil prices, but still facing a huge lack after posting one last year.
Moreover, spending is predicted at USD 30.9bn this year, compared with USD 36.6bn.
Additionally, incomes are projected at USD 22.3bn, down a huge 26 percent from last year.
While global oil prices pared ended 2015 sharply lower as the "black gold" was battered by global oversupply.
Moreover, spending is predicted at USD 30.9bn this year, compared with USD 36.6bn.
Additionally, incomes are projected at USD 22.3bn, down a huge 26 percent from last year.
While global oil prices pared ended 2015 sharply lower as the "black gold" was battered by global oversupply.
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