Oman’s public finances have demonstrated significant growth, with revenues climbing 13% year-on-year to reach around OMR 6.602 billion by the close of the second quarter in 2026. This upsurge is largely credited to increased oil and gas revenues, as detailed in the Ministry of Finance’s Fiscal Performance Bulletin. In comparison, public revenues were OMR 5.839 billion during the same timeframe in 2025.
The data reveals a 10% rise in net oil revenues, totaling OMR 3.332 billion, while net gas revenues saw a notable 32% increase, reaching OMR 1.164 billion. Oman achieved an average realized oil price of $74 per barrel, with daily production averaging approximately 1.074 million barrels. This performance underscores the importance of the energy sector in bolstering the nation’s fiscal health.
On the expenditure front, Oman saw an increase in public spending, which rose by 9% to OMR 6.619 billion from the previous year’s OMR 6.098 billion. Current expenditure accounted for OMR 4.369 billion of this total, while ministries and civil units contributed OMR 798 million through development spending. This rise in spending highlights the government’s commitment to development and operational needs, despite the growing financial outlay.
Remarkably, amidst the rise in both revenue and expenditure, Oman’s public debt level remained relatively stable. As of the second quarter of 2026, public debt stood at OMR 14.16 billion, showing only a marginal increase from OMR 14.12 billion recorded during the same period in the prior year. This stability in public debt suggests a balanced approach to fiscal management, even as the government navigates through increased financial activities.
In summary, the figures from the first half of 2026 illustrate a robust expansion in Oman’s public finances, propelled by an upswing in energy revenues. Simultaneously, government spending has escalated, reflecting ongoing investments in development and operational expenses while maintaining a steady public debt level. These dynamics indicate a promising trajectory for Oman’s economic landscape as it progresses through 2026.