Oman’s public revenues stand at OMR7.1 billion

Oman’s public revenues stand at OMR7.1 billion

Muscat: Oman's public revenue at the end of July 2023 amounted to OMR7. 183 billion, down by 10 percent when compared to OMR8. 003 billion registered over the same period in 2022, according to the Fiscal Performance Bulletin published by the Ministry of Finance on Monday. At the end of July 2023, net oil revenue amounted to OMR3. 714 billion, down by three percent when compared to OMR3. 827 billion registered over the same period in 2022. Average oil price amounted to $83 per barrel and average oil production reached 1, 058, 000 barrels per day. Further, net gas revenue amounted to OMR1. 329 billion at the end of July 2023, down by 35 percent when compared to OMR2. 056 billion registered over the same period in 2022. This is due to the deduction of gas purchase and transport expenses from total revenue collected from the Integrated Gas Company. By the end of July 2023, current revenue reached OMR2. 132 billion, up by one percent when compared to an amount of OMR2. 107 billion collected over the same period in 2022. Public spending at the end of July 2023 amounted to OMR6. 481 billion, down by OMR503 million, or 7