Muscat: The state’s general budget has recorded a surplus of more than OMR1 billion by the end of August 2022, according to a financial performance bulletin published by the Ministry of Finance.
Oman News Agency reported that the state’s general budget recorded by the end of August 2022 a surplus of OMR1 billion and 90 million, compared to a financial deficit during the same period in 2021.
The bulletin indicates a 47.3 per cent increase in the state’s public revenues until the end of August 2022 amounting to OMR9.325 billion.
The development expenditures of ministries and civil units amounted to about OMR566 million, with an exchange rate of 51 per cent of the total development liquidity allocated for 2022, amounting to OMR1.100 billion.
And, the total public spending until the end of August 2022 increased by 11.5 per cent to reach about OMR1.235 billion, compared to the same period in 2021.
An earlier publication of the Ministry said the general budget of the Sultanate of Oman achieved a financial surplus of more than OMR1 billion, at the end of July 2022.
His Majesty the Sultan, while presiding over the meeting of the Council of Ministers, indicated his approval of the government’s positive measures to reduce public debt and the efforts of government institutions to achieve balanced spending rates, and directed the importance of continuing efforts to reduce public debt and bring it within safe limits.
