Oman's 2009 Budget

The Oman Daily Observer announced the specifics of Oman's 2009 budget. The country anticipates running a larger deficit this year due to an approximately 11% increase in expenditures on the previous year and anticipated lower oil revenues (planned at $45/barrel). Increases come in much needed areas, such as education, healthcare, and road infrastructure according to the Observer. Below are some details. RO x 2.6 = US dollars.

[T]he educational sector accounts for 36 per cent at RO 791 million, i.e. an increase of RO 81 million (or 11 per cent) over the approved budget for the year 2008. Similarly, the health sector accounts for 12 per cent or RO 271 million of the total civil ministries’ expenditure, showing an increase by RO 43 million (19 per cent) over the 2008 allocations. Allocations for the development budget stand at RO 800 million, showing an increase of 10 per cent over the 2008 budget. These allocations are set to cover the ongoing as well as new projects listed in the Seventh Five-Year Plan (2006-2010) under the different sectors. RO 18 million has been allocated to subsidise the interest on development and housing loans provided by the Development Bank, the commercial banks and Oman Housing Bank to the beneficiaries.