Oman’s public revenues experienced a decline of 7 percent, reaching OMR2,635 million (OMR2.635 billion or $6.85 billion) by the end of Q1 2025, compared to OMR2,826 million recorded in the same quarter of 2024. This downturn is mainly attributed to a decrease in hydrocarbon revenue, as highlighted in the Fiscal Performance bulletin released by the Ministry of Finance.
Net oil revenue totaled OMR1,468 million at the end of Q1 2025, marking a 13 percent drop from OMR1,688 million collected during the corresponding quarter of 2024.
Net gas revenue reached OMR436 million as of the end of Q1 2025, reflecting a 2 percent decline from OMR444 million recorded in the same quarter of 2024.
Current revenue stood at OMR725 million as of the end of Q1 2025, indicating a 5 percent increase, or OMR34 million, from OMR691 million collected during the same quarter in 2024.
By the conclusion of Q1 2025, public spending hit OMR2,771 million, marking a 4 percent rise, or OMR107 million, from OMR2,664 million recorded during the same quarter of 2024. This increase is largely due to heightened development expenditure compared to the same period in 2024.
Read more: Strong economic indicators signal 3.4 percent GDP growth for Oman in 2025
Current expenditure overview
Additionally, current expenditure amounted to OMR1,967 million at the end of Q1 2025, reflecting a 1 percent decrease, or OMR11 million, from OMR1,978 million reported during the same quarter of 2024.
Development expenditure by the ministries and government units reached OMR254 million as of the end of Q1 2025, representing 28 percent of the total development expenditure, which amounts to OMR900 million allocated for 2025.
Contribution and other expenses totaled OMR490 million as of the end of Q1 2025, indicating a 1 percent increase, or OMR4 million, from OMR486 million recorded in the same quarter of 2024.
The subsidies allocated to the social protection system and oil products amounted to OMR144 million and OMR27 million, respectively, as of the end of Q1 2025. Furthermore, OMR100 million was transferred to the future debt obligations budget item.
By the end of Q1 2025, spending on social sectors and basic services reached OMR1,668 million.
Moreover, the Ministry of Finance had disbursed over OMR304 million to the private sector, received through the financial system with complete documentation. This underscores the Ministry’s commitment to settling fully documented private sector dues within an average of five working days.
Furthermore, the government repaid several outstanding financial obligations, resulting in public debt standing at OMR14.3 billion by the end of Q1 2025, down from OMR15.1 billion at the end of the same quarter in 2024.
