Business


No plans to cut expenditure next year, says Al Jashmi

by A. E. JAMES
Nasser bin Khamis Al Jashmi, undersecretary at the Ministry of Finance, said that Oman has safely managed to go through low oil price cycles in the past. So, depending on the nature of the fall in oil prices, the government has to take some measures in terms of expenditure or improve non-oil revenues. Photo - Times
Oman depends heavily on oil revenues that make up 83 per cent of its income. Oman Crude is trading at $84 per barrel now, which is considered low for estimating budget revenue

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