OMAN

 

Oman’s 2014 Budget Aims To Curb State Expenditure 

 

Oman’s freshly-released 2014 budget envisages a modest increase of 5.0% in total expenditure to OR13.5bn ($35.1bn), compared to a 29% increase in 2013 over 2012. Oman officially projects inflation at 1.4% for 2014 – level with 2013 – implying a real-terms 3.6% spending increase (almost in line with IMF predictions of 3.4% real GDP growth for 2014).

Total revenue is projected to increase...