​OMAN: More data needed to clarify the Q1 fiscal performance

GULF COUNTRIES - Report 03 May 2021 by Justin Alexander

Oman is now publishing fiscal data with just a month lag. The year started pretty well with signs of further expenditure consolidation in January and February. March spending ticked up quite a lot and may have been even higher in reality if it was the first month in which oil production costs were shifted off-budget to EDO. Non-oil revenue looks reasonable, although there are distortions from one-off items. Overall, Oman still seems reasonably committed to its fiscal consolidation plan, but until a more detailed breakdown of Q1 spending is published in a few weeks it is difficult to fully assess progress.

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