Oman government revenue drops 7.9% in January

Oman government revenues fell by 7.9% at the end of January 2014 to Omani Riyal (RO) 973.3 million against RO 1,056.9 million during the corresponding period in 2013, according the statistics released by the National Centre for Statistics and Information (NCSI).The statistics attributed this to a 10.4% decline in the Sultanate’s net oil revenues, which stood at RO 829.5 million by the end of January 2014 against RO 926.1 million during the corresponding period in 2013.Gas revenues rose by 14.1% to RO 105.5 million against RO 92.5 million by the end of January 2013. Capital revenues remained unchanged at RO 0.1 million during January 2014 compared to the same period last year. Similarly, other revenues stood at RO 38.2 million during January 2014 compared to the same period last year.The government’s total general expenditure rose by 10.1% at the end of January 2014 to RO 703.6 million against RO 639 million during the corresponding period in 2013.