Oman’s public spending and revenue falls in January 2021

Oman’s public spending and revenue falls in January 2021

According to the Fiscal Performance Bulletin of the Ministry of Finance Oman's public revenue in January 2021, decreased by 33. 1 per cent as compared to the same period of 2020 Muscat: Oman's State's General Budget recorded a decline in public spending by 17. 8 per cent and a reduction in public revenue by 33. 1 per cent in January 2021, compared to 2020, according to a new report. According to the Fiscal Performance Bulletin of the Ministry of Finance Oman's public revenue in January 2021, decreased by 33. 1 per cent as compared to the same period of 2020. This is mainly due to a decline in net oil revenue by 42. 9 per cent, and a decrease in gas revenue by 13. 8 per cent. In addition to a decline in current revenue by 18. 8 per cent. The report further said that public spending in January 2021, totalled OMR755. 6 million including expenses under a settlement with an amount of OMR457. 7 million, down by OMR164. 1 million as compared to the spending over the same period of 2020. This was attributed to transferring the ownership of State-owned enterprises (SOEs) and government investments from the Ministry of