The Sultanate of Oman has reported a significant increase in its public revenues for the first half of 2026, marking a 13% rise compared to the same period in 2025. The Ministry of Finance’s Fiscal Performance Bulletin highlights that revenues climbed to around OMR 6.602 billion, primarily due to heightened oil and gas income. This growth is evident from the previous year’s revenue figure of OMR 5.839 billion.
Oil revenues have been a substantial contributor, with net oil income rising by 10% to reach OMR 3.332 billion. Meanwhile, gas revenues saw an impressive 32% surge, totaling OMR 1.164 billion. Oman managed to achieve an average oil price of $74 per barrel, alongside a daily production average of about 1.074 million barrels, showcasing the strength of its energy sector.
Despite the robust revenue increase, public expenditure also saw an upward trend, reaching OMR 6.619 billion. This figure represents a 9% rise from OMR 6.098 billion recorded in the previous year. Current expenditure accounted for OMR 4.369 billion, while spending on development by ministries and civil units amounted to OMR 798 million, reflecting the government’s focus on both maintaining operations and fostering growth.
In terms of financial stability, Oman’s public debt remained relatively steady at OMR 14.16 billion, compared to OMR 14.12 billion during the same period in 2025. This stability indicates that despite increased spending, the nation has managed to keep its debt levels under control.
The financial data suggest that Oman is experiencing sustained growth in its public finances, bolstered by strong energy revenues. At the same time, the government has increased its spending, highlighting a balanced approach to economic management during the first half of 2026.