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RIYADH: Oman recorded a budget surplus of 18 million Omani riyals ($47 million) in January 2022 on the back of growing oil revenues.
The country saw a massive improvement from a deficit of 283 million Omani riyals in the same month a year ago, according to a report by the ministry of finance.
Total revenues reached up to 803 million Omani riyals, up over 85 percent on the year, and expenditures rose by 9.59 percent to 785 million riyals.
Strong oil revenues, which almost doubled to 554 million Omani riyals year-on-year, were the main driver of the solid 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.