Oman’s public revenues experienced a significant upswing, rising by 13% to reach approximately OMR 6.602 billion by the end of the second quarter of 2026. This growth is primarily attributed to an increase in oil and gas revenues. Compared to the same period in 2025, when public revenues were OMR 5.839 billion, the current figures highlight a notable improvement in the nation’s fiscal performance.
The Ministry of Finance’s Fiscal Performance Bulletin revealed that net oil revenues surged by 10%, totaling OMR 3.332 billion. Additionally, net gas revenues saw an impressive 32% increase, amounting to OMR 1.164 billion. The average realized oil price stood at $74 per barrel, with daily production averaging about 1.074 million barrels, contributing to the robust revenue growth.
On the expenditure front, Oman’s public spending also saw an increase, reaching OMR 6.619 billion, which is a 9% rise from OMR 6.098 billion recorded in the previous year. This increase was driven by higher current expenditure, which climbed to OMR 4.369 billion, and development spending by ministries and civil units, which amounted to OMR 798 million.
Despite the uptick in spending, Oman managed to maintain its public debt levels relatively stable at OMR 14.16 billion, only slightly up from OMR 14.12 billion during the same timeframe last year. This stability in public debt amidst rising expenditures underscores a balanced fiscal approach.
The latest figures underscore a continued positive trajectory in Oman’s public finances, bolstered by stronger energy revenues. The government’s increased expenditure reflects its commitment to development while maintaining fiscal stability during the first half of 2026.