Oman has experienced a significant boost in public revenues, marking a 13% increase to around 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 indicates that this represents an increase from the OMR 5.839 billion recorded during the same period in 2025. Specifically, net oil revenues climbed 10% to OMR 3.332 billion, while net gas revenues saw a notable 32% rise, reaching OMR 1.164 billion.
The average realized price for Oman’s oil stood at $74 per barrel, with daily production averaging approximately 1.074 million barrels. Alongside revenue growth, public expenditure also saw an uptick, amounting to OMR 6.619 billion, a 9% rise from the previous year’s OMR 6.098 billion. Current expenditures increased to OMR 4.369 billion, while spending on development by ministries and civil units amounted to OMR 798 million.
Despite the escalation in expenditure, Oman managed to maintain its public debt at a relatively stable level. By the end of the first half of 2026, public debt was recorded at OMR 14.16 billion, only slightly higher than the OMR 14.12 billion noted during the same period in the previous year.
The latest financial figures underscore a continuing growth trajectory in Oman’s public finances, buoyed by robust energy revenues. However, this period also reflects an increase in government spending, which has been a critical component of the country’s financial strategy in the first half of 2026.