VOL. XLVII

No 17

26-April-2004

BUDGETS AND REVENUES

Oman 2004 Budget Projects Increased Deficit Of $1.3Bn Despite LNG Revenues

The Omani Ministry of Finance has released the figures for the government budget for 2004, projecting a rise in both revenues and expenditure against 2003 and a budget deficit up 25% at OR500mn ($1.3bn). Oil revenues are forecast to fall 10% against 2003 budget figures to OR1,654mn ($4.3bn), reflecting falling crude production in Omans maturing fields (MEES, 17 November...