Oman is forecasting a 1.3 billion rials ($3.39 billion) deficit in its 2023 budget, or 3% of the gross domestic product, following an expected surplus this year after higher oil prices boosted revenues.
State media reported the Gulf state expects revenues of 11.7 billion rials ($30.2 billion), up 10% over the approved budget of the year 2022, and expenditure at 13 billion rials ($33.8 billion) next year, based on an average oil price assumption of $55 per barrel.
