Projected deficit at RO 2.8 billion

MUSCAT: The economic performance of the Sultanate has gained significant support this year as a result of improvement in the average price of Oman crude, which crossed $64 as at the end of last April, as well as helping in containing budget deficit. The 2019 Budget also adopted a balanced approach and projected a fiscal deficit at RO 2.8 billion in 2019, somewhat lower as compared to RO 3 billion provided in 2018 Budget. Non-oil activities also gained momentum as the government went ahead in taking necessary measures by increasing the participation of the private sector. Inflation remained at a limited level to stand 0.43 per cent in March.