Oman’s budget achieves a surplus of 468 million riyals in 4 months

Data from the Omani Ministry of Finance showed that the budget surplus from the beginning of this year until April amounted to 468 million Omani riyals, compared to a deficit of 828 million Omani riyals during the same period last year.

Public spending amounted to 3.749 billion riyals, an increase of 4.2% on an annual basis during the first four months of 2022.

Revenues exceeded OMR 4.2 billion, a growth rate of more than 52%, while oil revenues exceeded OMR 2 billion, an increase of 53% year-on-year.

The average oil price was $80 per barrel, compared to an average oil price of $47 per barrel until the end of April 2021.