Oman projects a $1.7 billion deficit in 2024 budget

Oman foresees a budget deficit of 640 million rials ($1.66 billion) in 2024, equivalent to approximately 1.5 per cent of its GDP on Monday. This fiscal shift marks a departure from the surplus recorded in 2023, attributing the turnaround to diminished oil production and pricing pressures impacting the nation’s finances. The 2024 budget aligns with…

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