Oman records $2bn budget surplus in first half of 2022 on higher energy prices – The National

Oman records $2bn budget surplus in first half of 2022 on higher energy prices – The National

Oman recorded a budget surplus of 784 million rials ($2 billion) in the first half of this year, compared with a 457m rial deficit in the same period a year earlier, as revenue grew on the back of higher oil and gas prices.

The Gulf country's total revenue in the six months to the end of June climbed more than 54 per cent to 6.72bn rials, compared with 4.36bn rials during the same period last year, state-run Oman News Agency (ONA) reported on Sunday.

“This increase is attributed to net oil revenues going up by the end of the first half of 2022 by 40.1 per cent to reach 3.187bn [rials] compared to the same period in 2021,” ONA said.