Financial and Banking News


Oman Trims Budget Deficit in 1985

The Sultanate of Oman is budgeting a RO198mn ($573mn) budget deficit in 1985, according to the summary budget figures released in Muscat last week. The deficit has been trimmed from a RO204mn budget deficit in 1984 and a RO207mn budget deficit in 1983. Total income is budgeted to rise by some 10% to RO1,719mn ($4.97bn), and total expenditure by 8.6% to RO1,917mn ($5.54bn). Oil income accounts for 75.2% of...