RIYADH: Oman has recorded a budget surplus of 210 million Omani riyals ($545 million) as of the end of February, on the back of growing oil revenues.
The country saw a massive improvement from a deficit of 457 million Omani riyals in the same period a year ago, according to a report by the ministry of finance.
Total revenues reached up to 1.92 billion Omani riyals, up over 75 percent on the year, and expenditures rose by 10.2 percent to 1.7 billion riyals.
Strong oil revenues, which almost doubled to 1.09 billion Omani riyals year-on-year, were the main driver of the figures.
This happened amid a boom in the energy market, as oil prices have been soaring steadily to record highs since the beginning of the year.
