Oman public revenue climbs 13% as gas income surges 32%

Oman’s public revenue climbed 13% to reach OMR6.602 billion by the end of the second quarter of 2026, driven by a significant surge in oil and gas income. Data released by the Ministry of Finance on Monday, 24 August, showed the Sultanate’s revenue grew from OMR5.839 billion recorded during the same period in 2025. Oil and Gas Revenue Growth The Ministry’s Fiscal Performance Bulletin attributed the fiscal expansion primarily to the energy sector. Net oil revenues rose 10% to OMR3.332 billion, compared to OMR3.018 billion a year earlier. Gas revenues saw a sharper increase, jumping 32% to reach OMR1.164 billion, up from OMR884 million in the second quarter of 2025. Total public expenditure also trended upward, reaching OMR6.619 billion by the end of June 2026. This represents a 9% increase, or OMR521 million, over the OMR6.098 billion spent during the first half of the previous year. The government attributed this rise to higher spending on development projects and current administrative costs. Debt Stabilization and Fiscal Outlook Despite the increase in spending, Oman’s total public debt remained relatively stable. The Bulletin reported debt at OMR14.16 billion at the end of the second quarter of 2026, a marginal 0.3% increase from the OMR14.12 billion recorded during the same period in 2025. This indicates a focus on fiscal consolidation even as the state increases development allocations. The release of these figures on 23 August serves as a key indicator for regional…