Oman: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Oman |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | 2.20 |
| Year | 2023 |
| Measure | percent |
| Data availability | 2003 - 2023 |
| Average | -3.86 |
| Min - Max | -21.10 - 2.70 |
| Source | Central Bank of Oman |
The latest value from 2023 is 2.2 percent, a decline from 2.7 percent in 2022. In comparison, the world average is -2.83 percent, based on data from 143 countries. Historically, the average for Oman from 2003 to 2023 is -3.86 percent. The minimum value, -21.1 percent, was reached in 2016 while the maximum of 2.7 percent was recorded in 2022.
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 19.06 | 2023 | percent |
| Government spending, in dollars | 20.18 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | 2.20 | 2023 | percent |
| Government debt | 36.50 | 2023 | percent |
| Commercial tax rate | 27.40 | 2019 | percent |
| Tax preparation time | 68 | 2019 | hours |
| Foreign aid | -21.61 | 2010 | million U.S. dollars |