By the end of the second quarter of 2026, Oman experienced a significant boost in public revenues, which climbed 13% compared to the previous year, reaching nearly OMR 6.602 billion. This surge was largely attributed to an increase in oil and gas revenues. The Ministry of Finance’s Fiscal Performance Bulletin highlighted this growth, showing an improvement from OMR 5.839 billion reported during the same period in 2025.
In detail, net oil revenues saw a 10% rise, amounting to OMR 3.332 billion, while net gas revenues surged by 32%, reaching OMR 1.164 billion. Oman achieved an average realized oil price of $74 per barrel, with daily oil production averaging around 1.074 million barrels. These figures reflect the country’s strengthened fiscal position, driven by robust energy sector performance.
Alongside the revenue growth, public expenditure in Oman also saw an increase, climbing 9% to OMR 6.619 billion compared to OMR 6.098 billion from the previous year. Current expenditure was recorded at OMR 4.369 billion, whereas development spending by various ministries and civil units amounted to OMR 798 million. This rise in spending underscores the government’s commitment to advancing national development initiatives.
Despite the uptick in expenditure, Oman’s public debt remained relatively stable, standing at OMR 14.16 billion, a slight increase from OMR 14.12 billion during the same timeframe last year. This stability in debt levels suggests that the government’s fiscal strategies are effectively managing the balance between spending and revenue.
The financial data for the first half of 2026 points towards ongoing growth in Oman’s public finances, buoyed by stronger energy revenue streams. However, it also reflects an increase in government expenditure, highlighting the dual challenge of maintaining fiscal health while supporting economic development.