JEDDAH: Oman’s public revenues rose 13 percent to 6.60 billion Omani rials ($17.2 billion) in the first half, driven by a 10 percent increase in net oil revenues and a 32 percent surge in gas revenues, according to official data.
According to the Fiscal Performance Bulletin issued by the Ministry of Finance, total public expenditure stood at approximately 6.62 billion rials by the end of June, marking an increase of 521 million rials, or 9 percent, from the 6.1 billion rials recorded during the same period in 2025.
The increase in expenditure was driven by higher development and current spending compared with the same period last year, the Oman News Agency reported.
The stronger fiscal performance comes as Oman seeks to build a less oil-dependent economy. The International Monetary Fund said Oman has made progress in diversification but has lagged the average pace in the Gulf Cooperation Council, while heightened global uncertainty and lower oil prices make faster economic transformation more important.
The fund said the 11th Five-Year Development Plan for 2026-2030 provides an opportunity to strengthen resilience and expand into higher-value activities with greater potential for exports, employment and growth.
