MUSCAT : The Sultanate of Oman’s government posted $1.900 billion budget surplus in August 2022, according to a bulletin issued by the Ministry of Finance.
In the same period in 2021, it showed a deficit of OMR 1.520 billion.
The bulletin indicates a 47.3% increase in the public revenue till August 2022 amounting to OMR 9.325 billion compared to OMR 6.331 billion during the same period last year.
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According to official Oman News Agency reported on Wednesday, the general budget recorded a surplus of OMR 1.900 billion by the end of August 2022, compared to a financial deficit during the same period in 2021.
Revenue from oil and gas witnessed an increase of 53.7%, recording OMR 6.980 billion.
The total current revenue amounted to about OMR 2.331 billion registering an increase of 32% while total public spending amounted to about OMR 8.235 billion, an increase of 11.5% and current expenses amounted to OMR 6.286 billion, an increase of 11.7%.
The total public spending until the end of August 2022 increased by 11.5% to reach about OMR 1.235 billion, compared to the same period in 2021.
