NO. 19


Financial and Banking News

Budgets & Revenues

Oman Holds Back Spending Across The Board To Reduce Budget Deficit

The full text of the Omani budget for 1994, as reported in the Royal Decreeof 1 January, shows that expenditure in the Sultanate is being cut across theboard in an attempt to respond to lower oil prices and reduce the state deficit.Allocations for defense and national security, current expenditure by civilministries, and investment spending have all...