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Oman govt revenues up 1.3pc

MUSCAT — Government revenues in Oman rose by 1.3 per cent in the first nine months of 2007, to RO4,565.3 million from RO4,506.9 million a year earlier, despite a drop in receipts from oil, official statistics indicated.

The budget showed a surplus of RO957.3 million, compared to a surplus of RO 1,240.2 million.

The increase in revenues was mainly attributed to a 43.2 per cent surge in net gas income, which rose to RO621 million from RO434 million. Other revenues grew by 17.2 per cent to RO726.4 million, compared to RO619.8 million.

Corporate income tax revenues increased by RO121.25 million to RO170.5 million compared to RO77.1 million, and customs duty by 28.5 per cent to RO93 million from RO72.4 million.

Oil revenues during the first nine months of the year dropped by 10.5 per cent to RO2,923 million, compared to RO3,266.7 million. Capital revenues fell by 16.1 per cent to RO31 million from RO37 million.

The government's general expenditure rose by 10.4 per cent to RO3,608 million from RO3,267 million.