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Saturday, July 26, 2014  

Sultanate’s revenues jump 40% to 4.6b rials
MUSCAT The Sultanate’s revenues rose 39.6 per cent to 4.6 billion rials during April 2012 from 3.29 billion rials in the corresponding period last year, according to a monthly report.

The State’s General Budget surplus stood at 1.47 billion rials during April 2012 as against a deficit of 114.3 million rials in the same period last year.

The report attributed the rise to higher oil revenues. Sultanate’s oil revenues increased 35 per cent to 3.27 billion rials during the month as against 2.42 billion rials in the same month last year, while revenues from gas exports surged 108 per cent to 687.1 million rials in April as against 330.3 million rials last year.

Custom charge earnings also rose 40 per cent to 66.1 million rials during the month as against 47.2 million rials in the same period last year, while capital revenues declined 36.9 per cent to 4.1 million rials against 6.5 million rials last year.

Income tax revenues of the companies in the Sultanate rose 70 per cent to 132.6 million rials during April from 78 million rials last year.

Other revenues also increased 6.9 per cent to 441.7 million rials as against 431.3 million rials in the same period in 2011.   

The government’s total general expenditure jumped 25.8 per cent during April 2012 to 3.13 billion rials as against 2.49 billion rials in the same period last year. The report pointed out that the rise in the general expenditure was on the back of a 41.7 per cent increase in current expenditure that stood at 2.02 billion rials in the month from 1.42 billion rials last year.

The contributions from the private sector rose 79.8 per cent to 341.7 million rials during the month as against 190 million rials in 2011.   The Sultanate’s investment spending declined 11.8 per cent to 771.6 million rials as against 875.3 million rials in the same month last year.    

Oman News Agency
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