Oman Records $4 Billion Budget Surplus in 2008 on Oil Revenue

DUBAI - Oman, the Middle East’s largest non-Opec crude producer, posted a budget surplus of 1.54 billion rials ($4 billion) last year as income from oil sales 
almost doubled.

By (Bloomberg)

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Published: Tue 14 Apr 2009, 12:24 AM

Last updated: Sun 5 Apr 2015, 9:27 PM

Oil revenue rose to 5.46 billion rials from 3.68 billion rials a year earlier, the country’s Ministry of National Economy said on its Web site. Oil prices soared to a record $147.27 a barrel last July. The prices have since dropped around 65 per cent as the global financial crisis dampened demand. Oman’s Central Bank Governor Hamud Bin Sangur Hashim Al Zadjali said last month the country’s economy may grow between 1 and 3 per cent this year.

Total government revenue rose 35 per cent to 7.98 billion rials from 5.92 billion rials in 2007, the ministry said.


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