Oman has experienced a notable rise in public revenues, achieving a 13% increase year-on-year, reaching approximately OMR 6.602 billion by the end of the second quarter of 2026. This growth is largely attributed to a surge in oil and gas revenues. The Ministry of Finance’s Fiscal Performance Bulletin reports that public revenues have climbed from OMR 5.839 billion in the same period of 2025. Specifically, net oil revenues saw a 10% rise to OMR 3.332 billion, while net gas revenues experienced a significant 32% increase, reaching OMR 1.164 billion.
Oman’s oil sector has recorded an average realized price of $74 per barrel, with daily production averaging around 1.074 million barrels. This robust performance in the oil market has been a crucial factor in enhancing the country’s public financial standing.
On the expenditure front, public spending also saw an upward trend, totaling OMR 6.619 billion, marking a 9% rise from the previous year’s OMR 6.098 billion. Current expenditures expanded to OMR 4.369 billion, while development spending by ministries and civil units amounted to OMR 798 million. Despite these increases in expenditure, Oman has managed to keep its public debt relatively stable at OMR 14.16 billion, showing only a slight rise from OMR 14.12 billion during the same period last year.
The data reflect a sustained growth trajectory in Oman’s public finances, supported by stronger energy revenues. This fiscal boost comes even as government expenditure has continued to rise during the first half of 2026, underscoring the country’s robust economic framework and financial management.