Oman ups spending by 5.3 percent in 2009
Oman increased spending on infrastructure and...
August 10, 2009 8:07 by Aarti Nagraj
Oman has increased spending on infrastructure and oil production projects by 5.3 percent to OMR 3.23 billion in the first six months of the year, reports Reuters. Spending on defense and security also increased 1.4 percent, but the country reduced subsidies to the private sector by 23 percent.
Total revenues fell 21.3 percent to OMR3.24 billion in the first half of the year because of reduced oil export earnings. Oman has projected a budget deficit of OMR 810 million in 2009.