The fund said that Oman’s real gross domestic product grew by 4.3 percent in 2022, and it also expected the country’s economic growth to slow to 1.3 percent in 2023 and then rebound to 2.7 percent in 2024.
The fund statement added that the outlook for the Omani economy in the short and medium term is favorable, and the risks to the outlook are balanced.
And the data of the Ministry of Finance in the Sultanate of Oman had shown, earlier, that net oil revenues rose nine percent in the first quarter of this year, driven by the increase in oil prices and production, which helped the Sultanate achieve a budget surplus of 450 million Omani riyals ($ 1.17 billion). ) During that period.
Net oil revenues as of the end of March 31 amounted to 1.71 billion riyals, based on an average price of $85 a barrel, compared to 1.57 billion riyals in the same period a year ago, which helped the state’s general revenues rise six percent during the first quarter, recording 3.22 billion riyals.
Public spending also increased in the first quarter by 4 percent, compared to the same period in the previous year, to 2.77 billion riyals.
The latest financial performance bulletin said, “The state’s general budget recorded a financial surplus at the end of the first quarter of 2023 amounting to about 450 million Omani riyals, compared to a surplus of 357 million Omani riyals in the same period in 2022.”
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