Sunday, April 14
12:25 PM

State revenue exceed RO1bn till end of January 2024

14 Mar 2024 State revenue exceed RO1bn till end of January 2024

Muscat – The State’s public revenues till the end of January 2024 recorded a rise by 3% to stand at RO1.014bn compared to RO982mn during the corresponding period in 2023.

This rise is attributed mainly to the surge in current revenues by 132%.

Net oil revenue till the end of January 2024 dropped by 1%, registering RO595mn compared to RO602mn by the end of January 2023. The average oil price stood at USD 90 per barrel and the average oil production stood at 1,040,000 barrels per day.

Public expenditure rose by 11% to about RO929mn by the end of January 2024. This increase, totaling RO92mn, stems from augmented development expenditures and contributions.

By the end of January 2024, the surplus stood at approx RO85mn, down from RO145mn during the same period in 2023.

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac