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Oman increases 2013 spending by 30%
- Oman: Thursday, January 03 - 2013 at 06:50
Oman's has raised spending in its 2013 budget by almost 30% over its 2012 plan to OR12.9bn ($33.5bn), as the sultanate boosts outlay on social benefits it promised after Arab Spring protests in 2011, Reuters has reported. Although the plan envisages income of OR11.2bn, actual revenue is likely to be higher because the budget is based on a conservative oil price of $85 a barrel, with average output of 930,000 barrels a day. Spending on education, health, housing and social welfare has been boosted by 22% for this year's plan, finance minister Darwish Al-Balushi said.
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