Oman’s public finances showed significant improvement in the first half of 2026, with revenues climbing 13% year-on-year to reach nearly OMR 6.602 billion. This growth was primarily fueled by increased oil and gas revenues. In comparison, revenues stood at OMR 5.839 billion during the same period in 2025, as highlighted in the Fiscal Performance Bulletin issued by the Ministry of Finance.
The rise in public income was notably supported by a 10% increase in net oil revenues, which amounted to OMR 3.332 billion. Net gas revenues saw an even more remarkable surge of 32%, reaching OMR 1.164 billion. Oman achieved an average oil price of $74 per barrel, with daily production levels averaging around 1.074 million barrels.
On the expenditure side, Oman also experienced growth, with public spending rising to OMR 6.619 billion, marking a 9% increase from OMR 6.098 billion in the previous year. Current expenditure accounted for OMR 4.369 billion, while development spending by various ministries and civil units totaled OMR 798 million. Despite these heightened expenditures, the country’s public debt remained relatively stable at OMR 14.16 billion, compared to OMR 14.12 billion in the prior year.
These figures underscore ongoing growth in Oman’s public finances, underscored by robust energy revenues. The government managed to maintain a stable level of public debt while simultaneously increasing its expenditure during the first half of 2026. This financial stability, alongside the rise in revenues, reflects a positive trajectory in Oman’s economic performance.