Oman hikes budget plans by 30 per cent
In its budget for 2013, Oman has raised state spending by 30 per cent from the original 2012 plan.
Oman's 2013 budget envisages spending of OMR 12.9 billion ($33.5 billion) as the Government provides social benefits it promised after Arab Spring protests in 2011, reported Reuters.
Actual spending last year was around OMR 13 billion, 30 per cent higher than planned, and analysts believe actual spending may continue increasing this year, said the newswire.
- Livelihoods trump lawlessness: young working Egyptians risk everything in Libya
- RIP: King Abdullah leaves behind profound legacy for the Saudi Economy
- Impetus from within: why the Arab World needs a very Arab 'Marshall Plan'
- 'Fiscal juggling': just how many economic priorities will Saudi Arabia's new King have to focus on?
- Despite Erdogan's 'harsh rhetoric', Turkish-Israeli is still booming