Oman’s budget deficit surged ahead by 63% Y-o-Y to OMR4,371.6mn in 8M16 compared to a projected deficit of OMR3.3bn for the entire 2016 and a deficit of OMR2,681.6mn for 8M15. Revenue from natural gas showed a fall of 7.5% Y-o-Y at OMR868.3mn. The overall state revenue dipped 28.3% Y-o-Y to OMR4,267.4mn, while expenditure fell 5% Y-o-Y to OMR7,439mn in 8M15. The country’s net oil revenue plunged 43.6% to OMR2,126mn in 8M16 from OMR3,770mn for the same period of last year. The average price of Oman Crude dropped 36% to USD38.3/barrel in 9M16, compared to a budget estimate at USD45/barrel and USD59.8/barrel in the same period of last year. Oman government’s expenditure and revenue for 2016 are estimated at OMR11.9bn and OMR8.6bn, respectively. (Times of Oman)