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Oman's budget to increase nine percent in 2010
Oman will announce its most expensive budget ever for 2010, influenced by higher oil prices and a decline in deficit, Emirates Business reported Wednesday (December 30th). The 2010 budget, at about $18.6 billion, is 9% higher than 2009. The budget will be officially unveiled on Saturday (January 2nd), but Omani newspapers said higher oil prices and steady production would cover about 90% of the spending. The remainder will be covered by Oman's reserves if oil prices do not rise.
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