Muscat: Oman’s public expenditure has reached four billion rials (Dh38.15 billion) in the first half of 2015, according to a Ministry of Finance report.
The report confirmed that the current expenditure has declined to 0.7 per cent, compared to the same period in 2014.
Spending on the security and defence sector has witnessed a dip by 15 per cent. Since July the spending stood at 1.5 billion rials, compared to 1.7 billion rials in the same period of 2014.
On the other hand, civil ministries spending has estimated to 2 billion rials, constituting a 2.2 per cent increase in the first half of 2015.
The Ministry of Finance data showed a rise in spending on oil production by more than 50 per cent, 278.2 million rials last July, compared to 148.9 million rials.
Gas production spending increased to 72.8 million rials last July compared to 41.6 million in the same period in 2014.
Meanwhile, Oman’s actual revenue during this fiscal year stood at 14.1 billion riyals compared to a revenue estimate of 11.1 billion riyals for last year.
The data showed the significant increase in total revenues was due to the increase in oil revenues — with 10.2 billion riyals being oil revenues and 1.6 billion riyals being gas revenues.
The data indicated that public spending which was approved by the Ministry of Finance was 13.5 billion riyals in 2014, but it rose to 15.2 billion riyals due to the adoption of additional allocations in 2014.
