Oman’s public revenues saw a notable increase of 13% year-on-year, reaching around OMR 6.602 billion by the close of the second quarter in 2026. This growth was primarily fueled by a rise in oil and gas revenues, marking a robust fiscal performance for the country. The Ministry of Finance’s Fiscal Performance Bulletin highlighted that this was a jump from OMR 5.839 billion recorded during the same period in 2025. Specifically, net oil revenues climbed by 10% to OMR 3.332 billion, while net gas revenues surged by 32% to OMR 1.164 billion.
During this period, Oman achieved an average realized oil price of $74 per barrel, with daily oil production averaging about 1.074 million barrels. This increase in energy-related income has been a significant contributor to the country’s financial upswing. The data suggests that Oman is benefiting from favorable market conditions in the energy sector, which have bolstered its revenue streams.
Meanwhile, public expenditure also experienced an upward trend, rising by 9% to OMR 6.619 billion compared to OMR 6.098 billion in the previous year. The increase in spending was driven by higher current expenditures, which amounted to OMR 4.369 billion, and development spending by ministries and civil units, which reached OMR 798 million. This reflects the government’s ongoing commitment to infrastructure and development projects, even as it manages fiscal growth.
Despite the rise in spending, Oman’s public debt remained relatively stable. At the end of the second quarter, public debt was recorded at OMR 14.16 billion, only a slight increase from OMR 14.12 billion during the same period last year. This stability indicates a balanced approach in managing national debt levels even as the government invests in various sectors.
Overall, the figures underscore a period of continued fiscal growth for Oman, supported by stronger energy revenues. The government’s increased expenditure aligns with its strategic objectives, focusing on sustained development while maintaining a stable debt profile. As Oman navigates through the fiscal year, the enhanced energy revenues are expected to continue playing a vital role in shaping its economic landscape.
