Oman has experienced a notable boost in public revenues, rising by 13% year-on-year to reach approximately OMR 6.602 billion by the end of the second quarter of 2026. This increase has been predominantly attributed to a surge in oil and gas revenues, as highlighted in the Ministry of Finance’s Fiscal Performance Bulletin. Compared to the same period in 2025, when public revenues stood at OMR 5.839 billion, there has been a significant improvement.
The country’s net oil revenues alone rose by 10% to OMR 3.332 billion, while net gas revenues saw an impressive 32% increase, reaching OMR 1.164 billion. Oman’s oil sector benefitted from an average realized oil price of $74 per barrel, coupled with an average daily production level of around 1.074 million barrels, contributing to the enhanced fiscal performance.
Public expenditure in Oman also saw an upward trend, climbing to OMR 6.619 billion, which is a 9% rise from OMR 6.098 billion recorded a year earlier. Breaking down the expenditures, current expenditure increased to OMR 4.369 billion. Meanwhile, development spending by various ministries and civil units accounted for OMR 798 million.
Despite the increased spending, Oman has managed to maintain a stable level of public debt, which stood at OMR 14.16 billion, only slightly above the OMR 14.12 billion recorded during the same period in the preceding year. This stability in public debt alongside the increasing revenues suggests a balanced fiscal approach.
The fiscal data paints a picture of continued growth in Oman’s public finances, supported by robust energy sector revenues. The government’s spending has also expanded during the first half of 2026, reflecting the nation’s ongoing economic development and commitment to infrastructural investments.