NO. 15


Financial and Banking News

Public Finance

Oman Budgets 6.2% Increase In Spending

The new Omani budget foresees spending of OR2,159mn ($5,608mn) during 1995, arise of 6.2% over the budgeted figure for last year. Revenues are due toincrease by a similar percentage, with the result that the deficit will widen toOR312mn ($810mn). Last year budgeted spending was cut by 10%. The 1995 deficitfigure will represent 15% of the total budget and about 7% of gross domestic...