MUSCAT : This increase is primarily attributed to the rise in net oil revenues.

The Fiscal Performance Bulletin issued by the Ministry of Finance indicated that net oil revenues increased by 5 percent up to the end of the first quarter of 2026, recording RO 1.535 billion compared to the collection of RO 1.468 billion up to the end of the first quarter of 2025.

The average realised oil price stood at approximately USD 64 per barrel, and average daily oil production reached about 1,025,000 barrels. This is attributed to Energy Development Oman’s (EDO) methodology for oil revenue collection and cash liquidity management.

The bulletin further explained that net gas revenues rose by 36 percent by the end of the first quarter of 2026, recording approximately RO 593 million compared to RO 436 million in the same period of 2025.

Moreover, the bulletin revealed that public spending up to the end of the first quarter of 2026 amounted to approximately RO 3.010 billion, an increase of RO 239 million, or 9 percent, compared to the actual spending of RO 2.771 billion during the same period in 2025.

Current revenues collected up to the end of the first quarter of 2026 decreased by 13 percent, or by approximately RO 92 million, amounting to RO 817 million compared to the collection of RO 725 million during the same period in 2025.

Meanwhile, current expenditures reached RO 2.119 billion, an increase of approximately RO 152 million compared to RO 1.967 billion at the end of the first quarter of 2025.

Furthermore, development expenditures for ministries and government civil units amounted to RO 334 million, representing a spending rate of approximately 26 percent of the total development liquidity allocated for 2026, which amounts to RO 1.300 billion.

Total contributions and other expenditures recorded approximately RO 417 million by the end of the first quarter of the current year, compared to RO 490 million during the same period in 2025.

Subsidies for the social protection system, the electricity sector, and petroleum products up to the end of the first quarter of 2026 amounted to approximately RO 154 million, RO 80 million, and RO 17 million, respectively. Additionally, transfers to the debt repayment provision item reached RO 75 million.

The bulletin showed that, by the end of the first quarter of the current year, the Ministry of Finance had paid over RO 362 million in dues to the private sector for payment vouchers received through the financial system that had completed their documentary cycles.

The bulletin also indicated that the total public debt stood at approximately RO 14.5 billion at the end of the first quarter of 2026, remaining stable at the same level recorded at the end of 2025, and reflecting a 2 percent increase compared to the RO 14.3 billion recorded at the end of the corresponding quarter in 2025.

For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.