Oman’s deficit in the first eight months of the year soared to OR4.37bn ($11.36bn), up 63% from OR2.68bn ($6.97bn) in the same period of 2015. The deficit annualized for 2016 would rise to OR6.56bn ($17.06bn), or almost double the projected deficit of OR3.3bn ($8.58bn). This remains in line with MEES assessments of Oman’s first half results (MEES, 9 September).

With total revenue of OR8.6bn ($22.36bn) and total expenditure of OR11.9bn ($30.94bn), Oman’s projected deficit has already been exceeded. (CONTINUED - 465 WORDS)