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Oman approves 2020 budget

| Updated: January 03, 2020 13:47:23

Oman approves 2020 budget

Sultan Qaboos bin Said of Oman has issued a royal decree that approves the country's general budget for the fiscal year 2020.

According to a statement of the Omani Ministry of Finance, the revenue of the general budget for 2020 was estimated at about 10.7 billion Omani riyals (about 27.8 billion US dollars).

The public spending was estimated at 13.2 billion Omani riyals, reports Xinhua.

The statement on Wednesday added that the budget revenue increased by 6.0 per cent from the estimated revenue for 2019.

The 2020 budget saw a deficit of 2.5 billion Omani riyals, about 8.0 per cent of the country's GDP.

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