Oman’s public finances have seen a significant boost, with revenues rising by 13% year-on-year to reach around OMR 6.602 billion by the end of the second quarter of 2026. This growth has been primarily fueled by increased earnings from oil and gas sectors. Compared to the same period in 2025, when revenues were at OMR 5.839 billion, the latest figures reflect a notable improvement.
The Ministry of Finance’s Fiscal Performance Bulletin highlights that net oil revenues experienced a 10% increase, totaling OMR 3.332 billion. Meanwhile, net gas revenues surged by 32%, amounting to OMR 1.164 billion. These figures are underpinned by an average realized oil price of $74 per barrel and an average daily oil production of about 1.074 million barrels, underscoring the robust performance of Oman’s energy sector.
Alongside the revenue increase, Oman has also seen a rise in public expenditure, which climbed to OMR 6.619 billion, marking a 9% increase from OMR 6.098 billion in the previous year. The breakdown of spending shows that current expenditure reached OMR 4.369 billion, while development spending by ministries and civil units stood at OMR 798 million.
Despite the hike in spending, Oman has managed to keep its public debt relatively stable. The debt level was recorded at OMR 14.16 billion, a slight change from OMR 14.12 billion in the same timeframe last year. This balance suggests that the country is managing to support its increased expenditures without significantly altering its debt structure.
Overall, the data signals a period of growth for Oman’s public finances, driven by a stronger performance in energy revenues and accompanied by an uptick in government spending during the first half of 2026. These developments illustrate the positive trajectory of the nation’s economic and fiscal landscape.