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Oman’s budget surplus surges to $464m by July-end

According to data released by Oman's National Centre for Statistics and Information, the sultanate's year-to-date government budget surplus surged to OR178.5m ($463.6m) at the end of July from OR95.3m in the first six months of 2013, Reuters has reported. However, the January-July surplus was sharply down from a surplus of OR2bn in the same period of 2012. Oman based its 2013 budget on a projected oil price of $85 per barrel, expected expenditure of OR12.9bn and a deficit of OR1.7bn.