Oman has seen a notable increase in public revenues, which rose by 13% year-on-year to about OMR 6.602 billion by the end of the second quarter of 2026. This growth has been largely fueled by a rise in oil and gas revenues, as detailed in the Ministry of Finance’s Fiscal Performance Bulletin. The increase in public revenues is a significant jump from the OMR 5.839 billion recorded during the same period in 2025.
The surge in net oil revenues, which climbed 10% to OMR 3.332 billion, alongside a substantial 32% increase in net gas revenues to OMR 1.164 billion, underscores the country’s enhanced energy sector performance. Oman reported an average realized oil price of $74 per barrel with daily production levels averaging around 1.074 million barrels, reflecting a robust output in its oil industry.
Public expenditure in Oman also witnessed an upward trend, reaching OMR 6.619 billion, marking a 9% rise from the previous year’s figure of OMR 6.098 billion. Current expenditures grew to OMR 4.369 billion, while development spending by ministries and civil units amounted to OMR 798 million. This increase in spending highlights the government’s commitment to development and infrastructure projects, despite the rising costs.
Despite the increased expenditure, Oman managed to keep its public debt relatively stable. By the end of the second quarter of 2026, public debt stood at OMR 14.16 billion, a slight increase from OMR 14.12 billion recorded during the same period last year. This stability suggests a balanced fiscal approach in managing the nation’s finances, even as it invests in various sectors.
The figures reflect a period of continued growth in Oman’s public finances, with strong energy revenues playing a pivotal role. As the government navigates increased expenditure, the stable public debt levels indicate a focused strategy in maintaining fiscal health while investing in future growth. The first half of 2026 stands as a testament to Oman’s financial resilience and strategic economic planning.