By the end of the second quarter of 2026, Oman experienced a 13% year-on-year increase in public revenues, reaching around OMR 6.602 billion. This growth was primarily fueled by a surge in oil and gas revenues. In comparison to the same period in 2025, when public revenues were recorded at OMR 5.839 billion, the latest figures from the Ministry of Finance’s Fiscal Performance Bulletin show notable financial progress.
Specifically, net oil revenues saw a 10% rise, amounting to OMR 3.332 billion, while net gas revenues jumped by 32% to reach OMR 1.164 billion. This increase in energy-related income can be attributed to Oman achieving an average realized oil price of $74 per barrel, alongside an average daily oil production of approximately 1.074 million barrels.
Alongside the rise in revenues, public expenditure also increased, totaling OMR 6.619 billion, which marks a 9% growth from OMR 6.098 billion a year earlier. A significant portion of this expenditure was directed towards current spending, which rose to OMR 4.369 billion. Additionally, development spending by ministries and civil units amounted to OMR 798 million, reflecting the government’s continued investment in development projects.
Despite the uptick in spending, Oman’s public debt remained relatively steady, standing at OMR 14.16 billion compared to OMR 14.12 billion during the same timeframe in the previous year. This stability indicates a balanced fiscal approach amidst increased spending and revenue generation.
The data highlights Oman’s ongoing financial growth, driven by robust energy revenues, while government expenditure has also seen a rise in the first half of 2026. The combination of stable debt levels and increased revenues underscores the country’s fiscal resilience and strategic management of its economic resources.