A man takes a picture of the city from the Nizwa fort in Muscat on February 13, 2017. / AFP / Philippe LOPEZ
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In a report dated July 18, the National Center for Statistics and Information said the deficit narrowed in the first five months of the year to 358.4 million rials ($931 million), down from 1.1 billion rials a year earlier.Oman's state budget plan envisaged a deficit of 9 percent for this year, or 2.8 billion rials, slightly more than last year's actual deficit of 2.65 billion rials. Budget revenue in January-May 2019 rose more than 15 percent from a year earlier, while spending dropped 4.3 percent, according to the statistics service.Yields on Oman's bonds due 2028 remain higher than lower-rated Bahrain's, which rallied last year after the country won a $10 billion bailout package.
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