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Oman estimates 2021 budget deficit at $3.12B

Oman estimates 2021 budget deficit at $3.12B

The Omani Ministry of Finance announced that the sultanate’s budget deficit hit an estimated 1.2 billion rials ($3.12 billion) in 2021, or 3.8% of gross domestic product, Reuters News reported.

Nominal GDP growth was estimated at 13.8% for 2021, marking a sharp rebound as compared to the deficit of 19.3% of GDP in 2020, the ministry said.

Oman’s debt-to-GDP ratio is expected to reach 68% in 2021, which is below the ministry’s projection of 83%, it added.

Foreign reserves at the Central Bank of Oman are estimated at $18 billion in 2021, versus $14 billion in 2020.

 

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04 Oct 2021
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