Oman's public revenues climbed 13% year-on-year to OMR 6.602 billion in the first half of 2026, up from OMR 5.839 billion in the same period of 2025, driven by stronger hydrocarbon performance, according to the Ministry of Finance's Fiscal Performance Bulletin.
Net oil revenues rose 10% to OMR 3.332 billion, supported by a realised average crude price of USD 74 per barrel and average daily production of 1.074 million barrels, both above the USD 60-per-barrel assumption underpinning the 2026 state budget. Net gas revenues surged 32% to OMR 1.164 billion, while current revenues grew 6% to OMR 2.045 billion.
Total public expenditure reached OMR 6.619 billion, a 9% increase, leaving a narrow fiscal deficit of just OMR 17 million. Development spending advanced 16% to OMR 798 million, representing 61% of the full-year OMR 1.3 billion allocation, with OMR 146 million directed to economic transformation projects under the 11th Five-Year Plan.
Gulf Economist Staff Writer