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Over RO9 Billion Gross Expenditure for State Public Finance in October 2017.

Muscat, Dec.30 (ONA) ---- The statistics released by the National Center for Statistics and Information (NCSI) pointed out that the gross public expenditure of the State's public finance grew by 5.6% to hit

RO9.424.7 billion at the end of October 2017 compared to RO8.920.7 billion during the corresponding period last year. The gross revenues grew by 19.2% to hit RO6.575.6 billion at the end of October 2017 compared to RO5.514.5 billion at the end of October 2016.

As of the end of October 2017, the State's public finance, after calculating the means of finance, registered a surplus of RO1.757.5 billion; a growth by 219.2% compared to the surplus at the end of October 2016 which stood at RO550.6 million.

Out of the finance means used by the Sultanate, whose value as of the end of October 2017 stood at RO4.956.6 billion, the net borrowing stood at RO4.106.6 billion whereas the net local borrowing recorded

RO350 million. The value of finance from reserves stood at RO500 million.

Before the calculation of the finance means, the public finance deficit at the end of October 2017 stood at RO3.199.1 billion, a decrease by 33.4% compared to RO4.806.2 billion in October 2016.

This increase in the public finance revenues is attributed to the growth in the net oil revenues by 32% to hit RO3.661.6 billion compared to

RO2.774.1 billion as of the end of October 2016.

The gas revenues grew by 10.7% to RO1.214.6 billion at the end of October 2017 compared to RO1.097.2 billion as of the end of October 2016.

The capital revenues also grew by 28.8% to register RO15.2 million at the end of October 2017 compared to RO11.8 million as of the end of October 2016.

The customs tax revenues decreased by 23.4% to RO185.7 million compared to RO242.4 million in October 2016.

The corporate income tax revenues decreased by 5.9% to RO338.3 million at the end of October 2017 compared to RO359.4 million as of the end of October 2016. The other revenues grew by 12.7% to hit

RO1.160.2 billion at the end of October 2017 compared to RO1.029.6 billion as of the end of October 2016.

As for public expenditure, the current expenses constituted the bulk expenditure with RO6.636.9 billion as of the end of October 2017; a growth by 3.2% compared to RO6.433 billion as of the end of October 2016.

The defence and security expenses decreased by 0.5% to RO2.600.9 billion. The expenses of civil ministries increased by 1.8% to RO3.341.7 billion.

The interest on loans has recorded the highest growth rate in the public expenditure current expenses as it increased by 290% to

RO207.1 million.

While the oil production expenses increased by 2.9% to RO270.2 million, the gas production expenses decreased by 2.4% to RO157 million.

The investment expenditure grew by 16.7% to RO2.348.1 billion.

Whereas the development expenditures of civil ministries grew by 14.7% to RO1.202 billion, the capital expenditure of the civil ministries decreased by 54.5% to RO5.6 million.

As for the investment expenditure, the oil production expenses item grew by 24.6% to RO602.1 million and the gas production expenses item grew by 14.9% to RO538.4 million.

The contributions and subsidy decreased by 7.5% to RO439.7 million and the actual expenditure under settlement amounted to RO350 million.

--- Ends/MS/AH/FS

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Publication:Oman News Agency
Date:Dec 30, 2017
Words:637
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