Muscat:Oman's public debt decreased significantly by over RO 600 million by the end of the third quarter of 2026, as reported in the latest financial data.
According to Oman News Agency, state public revenues increased by 16 percent, reaching approximately RO 9,828 million by the end of Q3 2026, compared to about RO 8,481 million during the same period the previous year. This growth is largely due to higher oil and non-oil revenues.
Public spending also saw a rise, amounting to about RO 9,738 million, which is an increase of RO 824 million or 9 percent from the RO 8,914 million spent in the corresponding period of 2025. This increase was observed across all expenditure items. The State General Budget recorded a financial surplus of about RO 90 million by the end of the third quarter.
Net oil revenues grew by 7 percent, registering approximately RO 5,046 million compared to RO 4,710 million by the end of Q3 2025. The average oil price was USD 81 per barrel, with production averaging 1,102,000 barrels per day. Net gas revenues saw a substantial rise of 61 percent, recording around RO 2,088 million compared to RO 1,296 million in 2025.
Current revenues increased by 7 percent to RO 2,614 million by the end of Q3 2026, up from RO 2,449 million in the same period of 2025. Current expenditures rose by RO 394 million to RO 6,621 million.
Development expenditures for ministries and economic projects reached RO 1,224 million, with a disbursement rate of about 94 percent of the total allocated for 2026. Contributions and other expenditures totaled RO 1,723 million, reflecting a 9 percent increase from the previous year.
Support for the Social Protection System, electricity sector, and petroleum products totaled RO 486 million, RO 441 million, and RO 280 million, respectively. Transfers to debt repayment reached RO 225 million, and expenditures under settlement stood at RO 170 million.
Payments to the private sector with completed documentary cycles surpassed RO 1,434 million, demonstrating the Ministry of Finance's commitment to settling dues swiftly. The public debt stood at RO 14.1 billion, down from RO 14.7 billion at the end of Q3 2025.