Oman has reported a notable rise in public revenues, marking a 13% increase year-on-year to reach approximately OMR 6.602 billion by the close of the second quarter of 2026. This growth has been primarily attributed to a surge in oil and gas revenues. Compared to the same period in 2025, when public revenues stood at OMR 5.839 billion, this represents a significant financial upswing for the Sultanate.
The Ministry of Finance’s Fiscal Performance Bulletin highlights that net oil revenues experienced a 10% rise, totaling OMR 3.332 billion, while net gas revenues saw an even more substantial increase of 32%, amounting to OMR 1.164 billion. Oman achieved an average realized oil price of $74 per barrel, with daily production averaging approximately 1.074 million barrels, underscoring the energy sector’s pivotal role in boosting the nation’s financial health.
On the expenditure side, the government saw a 9% rise in public spending, which reached OMR 6.619 billion, up from OMR 6.098 billion a year earlier. Current expenditure climbed to OMR 4.369 billion, and development spending by ministries and civil units amounted to OMR 798 million. This increase in expenditure reflects the government’s commitment to development and infrastructure growth, despite the concurrent rise in revenues.
Despite the heightened spending levels, Oman has maintained a stable public debt, which was reported at OMR 14.16 billion, only slightly higher than the OMR 14.12 billion recorded during the same period the previous year. This stability in public debt suggests that the nation’s financial management strategies are effectively balancing expenditure with revenue growth.
The financial figures underscore a period of continued growth for Oman’s public finances in the first half of 2026, bolstered by robust energy revenues. The government’s ability to manage increased expenditures while keeping public debt stable highlights a strategic approach to sustaining economic health and development in the region.