Oman's public revenues rise 13% to reach OMR6.6 billion

Muscat: The state public revenues recorded a 13 percent increase by the end of the second quarter of 2026, reaching approximately OMR6.602 billion, compared... Oman's public revenues rise 13% to reach OMR6.6 billion Sunday 23/August/2026 15:33 PM Muscat: The state public revenues recorded a 13 percent increase by the end of the second quarter of 2026, reaching approximately OMR6.602 billion, compared to approximately OMR5.839 billion during the corresponding period of the previous year. This growth is primarily attributable to higher oil revenues. According to the Fiscal Performance Bulletin issued by the Ministry of Finance, total public expenditure stood at approximately OMR6.619 billion by the end of Q2 2026, marking an increase of OMR 521 million, or 9 percent, relative to the OMR6.098 billion recorded during the same period in 2025. This rise reflects higher development and current expenditures compared to the equivalent period last year. The Bulletin further indicated that net oil revenues rose by 10 percent by the end of Q2 2026, reaching approximately OMR3.332 billion, compared to OMR3.018 billion recorded during the same period in 2025. The realised average oil price stood at USD 74 per barrel, while average daily oil production reached 1.074 million barrels per day. Net gas revenues also increased by 32 percent to OMR1.164 billion, up from OMR884 million in the corresponding period of 2025. Current revenues collected by the end of Q2 2026 grew by 6 percent to OMR2.045 billion, compared to OMR1.928 billion during the same period in 2025. On the expenditure side, current expenditures rose by approximately OMR251 million to OMR4.369 billion, against OMR4.118 billion recorded at the end of Q2 2025. Development expenditures for ministries and civil units reached OMR798 million by the end of Q2 2026, of which OMR146 million was allocated to economic transformation projects. The disbursement rate stood at approximately 61 percent of the total development expenditure budget for 2026, which amounts to OMR1.3 billion. Total contributions and other expenditures recorded OMR1.132 billion by the end of the second quarter of the current year, reflecting a decrease of approximately OMR29 million, or 2 percent, compared to OMR1.161 billion during the same period in 2025. Subsidies allocated to the social protection system, the electricity sector and petroleum products amounted to approximately OMR323 million, OMR288 million and OMR162 million, respectively, by the end of Q2 2026. Transfers to the debt service provision stood at OMR 150 million.