Oman's public revenues rise 16% to OMR9.82bn

Muscat: Oman's public revenues rose by 16 percent by the end of the third quarter of 2026, reaching OMR9.82 billion, compared with about OMR8.48 billion during the same period last year. This increase is mainly attributable to higher oil and non-oil revenues.

The Financial Performance Bulletin issued by the Ministry of Finance indicated that public spending amounted to about OMR9.73 billion by the end of the third quarter of 2026, an increase of OMR824 million, or 9 percent, over spending of about OMR8.91 billion in the corresponding period of 2025. The rise resulted from higher spending across all expenditure items compared with the same period last year.

The State General Budget recorded a financial surplus of about OMR90 million by the end of the third quarter of 2026.

The bulletin explained that net oil revenues rose by 7 percent by the end of the third quarter of 2026 reaching OMR5.04 billion, compared with OMR4.71 billion collected by the end of the third quarter of 2025. The average realised oil price stood at $81 per barrel, and average oil production reached 1.10 million barrels per day (bpd). Net gas revenues rose by 61 percent reaching OMR2.08 billion, compared with OMR1.29 billion in the same period of 2025.

The bulletin showed that current revenues collected by the end of the third quarter of 2026 rose by 7 percent to OMR2.61 billion, compared with OMR2.44 billion collected in the same period of 2025.

On the expenditure side, current expenditures increased by OMR394 million to OMR6.62 billion, compared with OMR6.22 billion by the end of the third quarter of 2025.

Development expenditures for ministries, civil units and economic transformation projects reached OMR1.22 billion by the end of the third quarter of 2026. The disbursement rate stood at about 94 percent of total development expenditures allocated for 2026, which amount to OMR1.3 billion.

Total contributions and other expenditures recorded OMR1.72 billion by the end of the third quarter of the current year, up by OMR139 million, or 9 percent, compared with OMR1.58 billion in the same period of 2025.

Support for the Social Protection System, the electricity sector and petroleum products amounted to about OMR486 million, OMR441 million and OMR280 million respectively by the end of the third quarter of 2026. Transfers to the debt repayment allocation reached OMR225 million.

Expenditures under settlement amounted to about OMR170 million by the end of the third quarter of 2026.

Payments to the private sector received through the financial system with completed documentary cycles exceeded OMR1.43 billion by the end of the third quarter of 2026. This reflects the Ministry of Finance's commitment to settling private sector dues with completed documentary cycles within an average of five working days.

The bulletin noted that public debt stood at OMR14.1 billion by the end of the third quarter of 2026, compared with OMR14.7 billion by the end of the same period in 2025, a decrease of more than OMR600 million.