Oman’s Public Revenues Reach $23.9 Billion in Q3 of 2024
Oman's public revenues recorded a 4% growth by the end of the third quarter of 2024, reaching OMR 9.19 billion(approximately 23.89 billion USD), compared to OMR 8.88 billion during the same period in 2023. This rise was primarily…
Oman’s public revenues recorded a 4% growth by the end of the third quarter of 2024, reaching OMR 9.19 billion(approximately 23.89 billion USD), compared to OMR 8.88 billion during the same period in 2023. This rise was primarily driven by a 12% increase in net oil revenues, amounting to OMR 5.43 billion.
Key Highlights:
- Average oil price: USD 83 per barrel.
- Daily oil production: Approximately 999,000 barrels per day.
- Net gas revenues: Declined by 15%, reaching OMR 1.34 billion.
Expenditures and Debt Management:
- Total expenditure: Increased by 8% to OMR 8.72 billion.
- Public debt: Reduced to OMR 14.4 billion by Q3 2024, down from OMR 15.7 billion in Q3 2023.
Oman continues to effectively manage its financial commitments, including allocating OMR 300 million for debt repayment and supporting social protection systems and electricity subsidies.
Source:
This news is sourced from Al Arabiya. For more details, access through the link below.
Increase in Oman’s public revenue to 9.19 billion Omani Riyals by the end of Q3
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