NO. 15


Financial and Banking News

Budgets & Revenues

Oman To Cut Government Spending By 10%

The Omani budget for 1994 is projecting expenditure of OR2,033mn ($5,281mn),a cut of 10.2% from 1993. Revenues are expected to increase by 1% to OR1,732mn($4,499mn). If these targets are achieved, the resulting deficit of OR301mn($782mn) will be well below those expected for the last two years. The budgetfigures were published on 2 January by the Omani News Agency, having been...