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.
- Grandiose promises, humble gestures: will Gaza actually receive all the aid it was pledged?
- Trouble getting them, trouble keeping them? Middle East firms challenged in attracting, retaining talent
- Does capitalism provide a solution to terrorism?
- No pain, no gain: Tunisian economy needs three years of tough love before rebounding
- How will MENA economies look in 2015?