Oman’s National Economy Achieves Positive Indicators in 2017

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During the year 2017, the Omani economy achieved many positive results and was driven by high oil prices, control of government spending and growth in non-oil revenues.

Oil prices, which reverted to last year, boosted the country’s public finances. Preliminary statistics indicate that government revenues rose to 2.7 billion Omani riyals by November, up 1 billion riyals from the same period in 2016, To reduce spending to reach RO 10.5 billion compared to RO 11.1 billion in the corresponding period of 2016.

The average price of Oman’s oil last year grew by 27.8 percent to $ 51.3 per barrel, compared with $ 1.40 a barrel in 2016.