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Oman’s revenues hit OMR 14.1 billion in 2014

Ministry of Finance attributes the remarkable increase to the growth in actual oil revenues.

The total actual revenues of Oman amounted to OMR14.1 billion compared with OMR11.7bn of estimated revenues at the state budget in the same year.

The Ministry of Finance attributes the remarkable increase to the growth in actual oil revenues, which amounted to OMR10.20bn compared to OMR8.15bn of estimated revenues in the budget, reports Oman News Agency.

Meanwhile, the gas revenues reached OMR1.68bn compared to OMR1.50bn of the estimated budget.

The ministry adds that the current revenues amounted to OMR1.98bn compared to OMR2bn in the state budget.

The capital revenues amounted to OMR15.8 million, while financial recoveries recorded OMR215 million, as per the final account of the budget.

The ministry adds that expenditure, which was decided at OMR13.5bn in last year’s budget, rose to OMR15.17bn underpinned by approving additional allocations to cover the emerging needs, in addition to the OMR9.6bn increase in current expenditure, which was estimated at OMR 8.66bn in the state budget.

(OMR1 = AED9.53, at the time of publishing)