Muscat, Provisional data indicates higher growth in revenues at 24.4 percent during the period January-August 2018 in relation to that during the corresponding period of 2017, according to the statistical bulletin released by the Central Bank of Oman (CBO).
While expenditure increased by 4.5 percent during January-August 2018 (as compared with a pronounced drop of 5.7 percent in the same period last year), the fiscal deficit witnessed a significant decline to RO1.8 billion during this period from RO2.8 billion during the corresponding period of last year.
The average price of Omani crude oil during January to August 2018 stood at USD65.4 about 27 percent higher as compared to USD51.6 during the same period in 2017.
Average annual inflation based on CPI for the Sultanate during January-August 2018 stood to 0.9 percent, much lower in comparison with 1.8 percent during the corresponding period in 2017. Nonetheless, the main contributor to inflation during January-August 2018 were transportation and education.
Source: Oman News Agency