Oman registers budget deficit of OMR826.5 million

  • Date: 12-Oct-2020
  • Source: Times of Oman
  • Sector:Economy
  • Country:Oman
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Oman registers budget deficit of OMR826.5 million

Muscat: Oman government registered a budget deficit of OMR826.5 million until the end of June 2020. Meanwhile, the budget deficit for the same period of 2019 was OMR660.6 million, according to the latest data released by the National Centre for Statistics and Information (NCSI).The total revenue of the Oman government fell 12.4 per cent to OMR4.83 billion until the end of June 2020, over the same period of the previous year due to fall in oil prices.The net oil revenue of the Oman government fell 16.3 per cent to OMR2.57 billion until the end of June 2020, from OMR3.07 billion for the same period of the previous year, the report added. Revenue from natural gas fell 21.2 per cent to OMR740.8 million, while customs duty and corporate income tax contributed