Oman unveils 2019 budget highlighting prudent spending

MUSCAT, Jan. 1 (Xinhua) -- The Omani government unveiled in a statement on Tuesday its 2019 general budget highlighting modest prudent spending.

Spending is projected to increase to 12.9 billion rials (33.52 billion U.S. dollars), up 400 million rials from the estimated expenditure of 2018, while the revenues are estimated at 10.1 billion rials.

The budget, based on a conservative oil price of 58 dollars per barrel, estimates the deficit at 2.8 billion rials, or 9 percent of the GDP.