974 million, the deficit in Oman's budget for 2002

Oman has expected a deficit in its budget for 2002 at USD 380 Omani Riyals ( estimated at USD 974 million) at an increase of 17% over the budget of 2001, according to the Omani news agency on Tuesday.

The budget which was ratified by a decree issues by Sultan Qabous noted an expenditure at a cost of 2.87 billion (estimated at USD 7.358 billion.), according to the Omani news agency, adding that the main headlines for this budget will be debated by the Omani minister of the economy on the pressmen next Saturday.

The discrepancy volume expected for 2001 was USD 811.5 million,.

Oman which is a non- OPEC oil producing country of a daily production of oil estimated at 900,000 barrels a day is facing a recession in the prices of its crude oil following the attacks of September 11, 2001 against the US.