Oman Announces Record 2013 Budget
By Basim Itayim
Oman is projecting a 29% increase in expenditure in 2013 to a record OR12.9bn ($33.54bn) from OR10bn ($26bn) in 2012 and a 27% increase in revenue to OR11.2bn ($29.12bn) in 2013 from OR8.8bn ($22.88bn), against a backdrop of firm oil prices, Oman’s Minister for Financial Affairs Darwish al-Balushi announced on 25 November. Unveiling details of next year’s draft budget to Majlis al-Shura...