Oman has created its 2018 Budget, an increase from 2017 proposed figure of 11.7Billion Omani Rials (30.5BillionUS$appx) to 12.5Billion Omani Rials (32.5BillionUS$appx)an increase of 6.8%. Oman’s GDP is hoped to increase by 3% in 2018.
The Oman government has published the Budget for 2017. Not unexpectedly, given the country’s reliance on oil, it shows a substantial deficit which is anticipated to be 28% of Government Revenue. The deficit during the remaining years of the government’s 5-year plan to 2020 is again projected to remain between 25-30% each year. The government is anticipating a rise in its expenditure from a projected Omani Rials (OMR) 11,165Billion in 2017 to (OMR) 14,100 in 2020.