Oman’s public debt decreases to OMR14.4 billion

Business Sunday 17/August/2025 15:40 PM
By: ONA
Oman’s public debt decreases to OMR14.4 billion

Muscat: The Sultanate of Oman’s public debt decreased by the end of Q2 2025 to reach OMR14.1 billion compared to OMR14.4 billion by the end of the corresponding period in 2024.

By the end of Q2 2025, the Ministry of Finance had paid over OMR749 million to the private sector, received through the financial system with complete documentation. This reflects the Ministry’s commitment to settling fully documented private sector dues within an average of five working days.

Public revenue by the end of Q2 2025, totaled OMR5,839 million, reflecting a 6% decrease from OMR6,197 million recorded during the same quarter of 2024. The decline is largely due to a fall in hydrocarbon revenue.

Furthermore, net oil revenue amounted to OMR3,018 million as of the end of Q2 2025, representing a 10% decrease from OMR3,362 million collected during the same quarter of 2024, due to lower average oil prices and production.

Net gas revenue reached OMR884 million as of the end of Q2 2025, reflecting a 6% decline from OMR943 million recorded in the same quarter of 2024.

Meanwhile, current revenue totalled OMR1,928 million as of the end of Q2 2025, indicating a 2% increase, i.e., OMR46 million, from OMR1,882 million collected during the same quarter in 2024.

By the end of Q2 2025, public spending totalled OMR6,098 million, marking a 5% increase, i.e., OMR292 million, from OMR5,806 million recorded during the same quarter of 2024.

This growth is primarily attributed to increased development expenditure compared to the same period in 2024.

Current expenditure amounted to OMR4,118 million as of the end of Q2 2025, reflecting a 1% decrease, i.e., OMR53 million, from OMR4,065 million reported during the same quarter of 2024.

Development expenditure of the ministries and government units reached OMR688 million as of the end of Q2 2025, representing 76% of total development expenditure, i.e. OMR900 million, allocated for 2025, driven by the accelerated pace of work on ongoing development projects.

Contribution and other expenses totalled OMR1,161 million as of the end of Q2 2025, indicating a 7% increase, i.e., OMR73 million, from OMR1,088 million recorded in the same quarter of 2024.

 Subsidy allocations included OMR339 million to the electricity sector, OMR289 million to the social protection system, and OMR44 million for oil products. Furthermore, OMR200 million was transferred to the future debt obligations budget item.

By the end of Q2 2025, spending on social sectors and basic services totalled OMR3,122 million.