Oman’s public revenues increased by 13% to 6.60 billion Omani rials, or $17.2 billion, during the first half of the year, supported by a 10% rise in net oil revenues and a 32% increase in gas revenues, according to official figures.
The Ministry of Finance said in its Fiscal Performance Bulletin that total public spending reached about 6.62 billion rials by the end of June. This was 521 million rials, or 9%, higher than the 6.1 billion rials recorded during the same period in 2025.
The Oman News Agency reported that the rise in spending was mainly due to higher development and current expenditures compared with the previous year.
The improved fiscal performance comes as Oman continues its efforts to reduce its dependence on oil. The International Monetary Fund said Oman has made progress in economic diversification but has moved more slowly than the average pace across the Gulf Cooperation Council.
The IMF said global uncertainty and lower oil prices have made faster economic transformation more important. It added that Oman’s 11th Five-Year Development Plan for 2026-30 offers an opportunity to strengthen the economy and expand into higher-value sectors with better potential for exports, jobs and growth.
According to the Fiscal Performance Bulletin, net oil revenues rose by 10% by the end of the second quarter to about 3.33 billion rials, compared with 3.02 billion rials during the same period in 2025.
The average oil price stood at $74 per barrel, while average daily oil production reached 1.07 million barrels per day. Net gas revenues also increased by 32% to 1.16 billion rials, compared with 884 million rials during the same period in 2025.
Current revenues collected by the end of June rose by 6% to 2.05 billion rials, compared with 1.93 billion rials in the same period last year.
Current expenditures increased by about 251 million rials to 4.37 billion rials, compared with 4.12 billion rials at the end of the second quarter of 2025.
Development spending for ministries and civil units reached 798 million rials by the end of June. Of this amount, 146 million rials was allocated to economic transformation projects.
The government had spent about 61% of its total development expenditure budget for 2026, which stands at 1.3 billion rials.
Total contributions and other expenditures reached 1.13 billion rials by the end of the second quarter, down by about 29 million rials, or 2%, from 1.16 billion rials during the same period in 2025.
Subsidies for the social protection system, electricity sector and petroleum products stood at about 323 million rials, 288 million rials and 162 million rials, respectively. Transfers for debt servicing reached 150 million rials.
Suspense expenditures reached about 320 million rials by the end of June, compared with about 130 million rials during the same period in 2025.
Oman’s total public debt stood at about 14.16 billion rials by the end of June, compared with 14.12 billion rials during the same period last year, showing a small increase of about 0.3%.
