Oman’s public revenues experienced a notable increase of 13% year-on-year, reaching around OMR 6.602 billion by the close of the second quarter of 2026. This growth was largely fueled by a rise in oil and gas revenues. As reported in the Ministry of Finance’s Fiscal Performance Bulletin, the revenue figures showed an increase from OMR 5.839 billion during the same period in 2025. Specifically, net oil revenues rose by 10% to OMR 3.332 billion, and net gas revenues surged by 32% to OMR 1.164 billion.
The country saw an average oil price of $74 per barrel, with daily production averaging approximately 1.074 million barrels. This increase in energy revenues significantly bolstered Oman’s fiscal landscape. Despite the higher income, public expenditure also saw an upswing, totaling OMR 6.619 billion, which marks a 9% rise from the previous year’s OMR 6.098 billion. Current expenditure expanded to OMR 4.369 billion, and development spending by ministries and civil units reached OMR 798 million.
Amidst these financial activities, Oman managed to maintain its public debt level relatively stable at OMR 14.16 billion, only slightly higher than OMR 14.12 billion at the same time last year. This stability in debt occurred despite the increased government spending, reflecting a balanced approach to fiscal management.
The fiscal data from the first half of 2026 underscores a trend of growth in Oman’s public finances, driven by robust energy sector revenues. The government’s ability to manage increased expenditure while keeping the public debt stable highlights a strategic financial approach that supports ongoing economic development.