Oman experienced a notable rise in public revenues, achieving a 13% year-on-year increase to approximately OMR 6.602 billion by the close of the second quarter in 2026. This growth was largely fueled by enhanced oil and gas revenues, as highlighted in the latest Fiscal Performance Bulletin from the Ministry of Finance. The increase marks a significant uptick from the OMR 5.839 billion recorded in the corresponding period of 2025.
The surge in Oman’s net oil revenues was a key contributor, rising by 10% to reach OMR 3.332 billion. Meanwhile, net gas revenues saw an impressive 32% rise, totaling OMR 1.164 billion. These gains were supported by an average realized oil price of $74 per barrel and an average daily production level of approximately 1.074 million barrels.
Alongside the revenue growth, public expenditure saw an upward trend, climbing to OMR 6.619 billion, which represents a 9% increase from the OMR 6.098 billion recorded in the previous year. Current expenditures accounted for a significant portion, rising to OMR 4.369 billion. Additionally, development spending by ministries and civil units reached OMR 798 million, indicating a robust investment in public projects.
Despite these increases in revenue and spending, Oman’s public debt remained relatively unchanged at OMR 14.16 billion, maintaining stability compared to the OMR 14.12 billion reported in the same timeframe last year. The data reflects a period of continued growth in Oman’s public finances, driven by strong energy sector performance, while also managing increased government spending during the first half of 2026.