Oman's ministry of economy projects record expenditure of OR8.130 billion ($21.12bn) for the 2011 budget, up 13.2 per cent from the previous year, it said in a statement released on Thursday.

The deficit has been forecast at OR850 million, the ministry of economy said. The Persian Gulf Arab state forecast a budget deficit of OR800m this year, but analysts expected the shortfall to be comfortably wiped out.
Revenues for 2011 were estimated at OR7.28bn from OR6.38bn for the current year.
The 2011 budget was estimated with an expected oil price of $58 per barrel, $8 more than in 2010, with average daily production of 896,000 barrels, three per cent higher than 2010.
(Source: emirates 24/7)