Oman’s public revenues experienced a significant increase, rising by 13% year-on-year to reach approximately OMR 6.602 billion by the end of the second quarter of 2026. This growth was primarily driven by enhanced oil and gas revenues. The Ministry of Finance’s Fiscal Performance Bulletin reported that public revenues had risen from OMR 5.839 billion during the same period in 2025. Specifically, net oil revenues saw a 10% increase to OMR 3.332 billion, while net gas revenues surged by 32% to OMR 1.164 billion.
The country achieved an average realised oil price of $74 per barrel, with daily production averaging around 1.074 million barrels. In tandem with revenue growth, public expenditure also rose, reaching OMR 6.619 billion, a 9% increase from OMR 6.098 billion a year earlier. Current expenditure climbed to OMR 4.369 billion, and development spending by ministries and civil units amounted to OMR 798 million.
Despite the uptick in spending, Oman’s public debt remained relatively stable, standing at OMR 14.16 billion compared to OMR 14.12 billion during the same period last year. This stability in debt levels, alongside increased public spending, reflects a balanced fiscal performance amidst growing revenue streams.
The figures underscore the continued growth trajectory of Oman’s public finances, bolstered by the strength of its energy sector revenues. The increase in government expenditure highlights the country’s commitment to development and current needs, even as it maintains a steady debt level. These developments point to a robust financial landscape for Oman in the first half of 2026.