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Tue 12 Jan 2010 12:43 AM

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Oman spending rose by 6.8% in Jan - Nov 09

The Gulf state increased expenditure in the first 11 months of 2009 to $16bn.

Oman's expenditure rose 6.8 percent in the first eleven months of 2009 on investment projects but total revenues dropped by 22.3 percent, official data showed on Monday.

The Gulf Arab state increased total expenditure to $16 billion in the first eleven months of 2009, from $15 billion in the same period last year, the data from the Ministry of National Economy showed.

Oman raised spending by 20 percent to $5.65 billion on oil production and infrastructural projects such as roads, ports and airports.

But revenues in the first eleven months slid to $15.67 billion from $20.18 billion a year earlier, driven by decline in net oil revenues by 26.7 percent to $10.41 billion, the data showed.

Oman registered a budget deficit of $364.58 million year on year to November, compared to a surplus of $5.15 billion a year earlier. (Reuters)

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