Oman to create 20,000 gov't jobs in 2013 - min

  • Share via facebook
  • Tweet this
  • Bookmark and Share
(AFP/Getty Images)

(AFP/Getty Images)

Oman will continue spending heavily on job creation for its citizens this year, Finance Minister Darwish al-Balushi said on Wednesday at a news conference on the 2013 budget.

"Last year we created 36,000 jobs for Omanis by spending OMR300m (US$780m)," he said. "This year we will create 56,000 jobs, of which 20,000 will be in the government sector."

He did not specify how large 2013 spending on jobs would be.

As previously reported, the budget plan envisages spending of OMR12.9bn in 2013, up nearly 30 percent from the 2012 plan. Last year's actual spending was about OMR13bn, because of outlays on development projects.

Last year's budget envisaged revenues of OMR8.8bn and an average price for Oman's oil of US$75 per barrel. But because oil actually averaged US$109 last year, revenues came in at about OMR14bn, giving the government a surplus of about OMR1bn, Balushi said on Wednesday.

He said that surplus would be used to cover part of any deficit this year. The 2013 budget envisages a deficit of roughly OMR1.7bn, based on an average oil price of US$85.

Balushi also said Oman's break-even oil price, the level it would need to balance its budget, would be $104 this year.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Most Discussed
  • 15
    ‘How my Dubai mortgage landed me in a police cell’

    Not to undermine the ordeal Paris had to go through however I believe that buying a property no matter how busy I am should be followed up. Having said... more

    Friday, 31 October 2014 2:41 PM - sami
  • 10
    Do you actually own your house?

    This is unbelievable from Nakheel. In a case where we want landscape our garden with some tiles and grass costing around 12500, Nakheel is demanding a... more

    Thursday, 30 October 2014 9:06 PM - skp
  • 1
    Men arrested for working in women's shops in Saudi

    “We won’t spare any mall or shop employing expatriate men to sell women’s accessories,” the ministry’s director general in Makkah, Abdul Monem Al Shahri... more

    Friday, 31 October 2014 12:22 PM - cba