Oman’S Public Revenue Stands At $16 Billion

2024-08-19 11:24:35

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – At the end of the second quarter of this year, Oman's public revenue reached OMR 6.2 billion [USD 16 billion], state news agency ONA said.

This was a 2% decrease compared to OMR 6.3 billion (USD 16.4 billion) registered over the same period of 2023. This reduction is mainly attributed to the decline in net gas revenue and current revenue.

According to the fiscal performance bulletin issued by the Ministry of Finance, at the end of the second quarter of 2024, net oil revenue increased by 3% to ORM 3.4 billion (USD 8.7 billion). The average realized oil price amounted to USD 82 per barrel

Net gas revenue amounted to OMR 943 million (USD 2.4 billion), decreasing by 15% due to the change in the methodology for collecting gas revenue.

The current revenue amounted to OMR 1.9 billion (USD 4.8 billion), down by OMR 80 million (USD 207.2 million) when compared to the same period of 2023.

Oman's spending

At the end of the second quarter of the year, the public spending amounted to OMR 5.8 billion (USD 15 billion), up 2% when compared to the same period in 2023.

The bulletin mentions as the main items of public spending current, development, social protection, electricity and oil products subsidies.

Read more:
Investments in Oman's industrial city reach $49 mn

Translated by Guilherme Miranda

The post Oman's public revenue stands at $16 billion appeared first on ANBA News Agency .

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