Oman has witnessed a notable 13% increase in its public revenues, reaching about OMR 6.602 billion by the conclusion of the second quarter of 2026. This growth is largely fueled by a surge in oil and gas revenues. The Ministry of Finance’s Fiscal Performance Bulletin highlights that these figures represent a rise from OMR 5.839 billion during the same timeframe in 2025. Within this period, net oil revenues climbed 10% to OMR 3.332 billion, and net gas revenues saw a significant 32% jump to OMR 1.164 billion.
The average price of oil realized by Oman was $74 per barrel, with daily production averaging around 1.074 million barrels. This boost in energy sector performance has played a crucial role in enhancing the country’s financial stability. Meanwhile, public expenditure also saw an uptick, rising to OMR 6.619 billion, an increase of 9% from OMR 6.098 billion in the previous year. The rise in spending includes current expenditures, which have grown to OMR 4.369 billion, and development spending by ministries and civil units, which reached OMR 798 million.
Despite the increased expenditure, Oman has managed to keep its public debt relatively stable at OMR 14.16 billion, a slight rise from OMR 14.12 billion recorded during the same period last year. This stability in public debt amidst heightened spending indicates effective financial management by the government, ensuring that the rise in revenues is not offset by a disproportionate increase in debt levels.
The fiscal data underscores a period of continued growth in Oman’s public finances, underpinned by robust energy revenue streams. The government’s increased expenditure reflects its commitment to development and infrastructure, which are crucial for sustaining economic growth. As Oman navigates the mid-year financial landscape, the sustained stability in public debt, coupled with rising revenues, positions the nation favorably for future fiscal strategies.