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Oman reports $57 million budget deficit in 2009

The government had projected a budget deficit of $2.1 billion for the year.

February 28, 2010 4:25 by

Oman recorded a budget deficit of OMR22.1 million ($57.46 million) in 2009, much lesser than the OMR810 million ($2.1 billion) planned by the government, according to central bank data released on Sunday. While the country’s revenues reached OMR 6.687 billion ($17.3 billion) during the year, expenditures stood at OMR6.7 billion ($17.4 billion). The country based its 2009 budget on oil price of $45 per barrel.

Oman expects a budget deficit of $2.08 billion in 2010, and it has based its budget on an average oil price of $50 per barrel, reports Reuters.

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