The Sultanate of Oman's public revenue totalled RO 8,481 million by the end of Q3 2025, reflecting an 8 percent decrease from RO 9,198 million recorded during the same quarter of 2024. The decline is largely due to a fall in hydrocarbon revenue, according to the Quarterly Bulletin released by the Ministry of Finance.
The average oil price at the end of Q3, 2025, was $72 per barrel compared to $83 per barrel during the same period in 2024, while the average oil production in 933 barrels per day (bpd) 2025, compared to 1,000 bpd.
Total public spending amounted to RO 8,914 million, while the State General budget recorded a deficit of RO 433 million.
Net oil revenue amounted to RO 4,710 million as of the end of Q3 2025, representing a 13 percent decrease from RO 5,436 million collected during the same quarter of 2024, due to lower average oil prices and production.
Net gas revenue reached RO 1,296 million as of the end of Q3 2025, reflecting a 4 percent decline from RO 1,345 million recorded in the same quarter of 2024. This decline is attributed to the Integrated Gas Company’s methodology for collecting gas revenue.
Current revenue totalled RO 2,449 million as of the end of Q3 2025, indicating a 2 percent increase, i.e., RO 50 million, from RO 2,399 million collected during the same quarter in 2024.
By the end of Q3 2025, public spending totalled RO 8,914 million, marking a 2% increase, i.e., RO 191 million, from RO 8,722 million recorded during the same quarter of 2024. This increase is attributed to higher development expenditure, which rose by RO 263 million, i.e., 31 percent compared to the same period in 2024.
Current expenditure amounted to RO 6,227 million as of the end of Q3 2025, reflecting a 1 percent decrease, i.e., RO 75 million, from RO 6,152 million reported during the same quarter of 2024.
Development expenditure of the ministries and government units reached RO 1,103 million as of the end of Q3 2025, exceeding the allocated spending ceiling by 23 percent against the total development budget of RO 900 million for 2025, driven by the accelerated execution of ongoing development projects.
Contribution and other expenses totalled RO 1,583 million as of the end of Q3 2025, indicating a 9 percent decrease, i.e., RO 148 million, from RO 1,731 million recorded in the same quarter of 2024. Subsidy allocations included RO 378 million to the electricity sector, RO 424 million to the social protection sector system, and RO 55 million for oil products.
Furthermore, RO 300 million was transferred to the future debt obligations budget item.By the end of Q3 2025, spending on social sectors and basic services totalled RO
3,817 million, distributed as follows: 37 percent for education, 26 percent for social security and welfare, 11 percent for housing, and 26 percent for health.
By the end of Q3 2025, the Ministry of Finance had paid over RO 1,225 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.
By the end of Q3 2025, public debt stood at RO 14.7 billion, up from RO 14.4 billion at the end of the same quarter in 2024.
Global economic growth is projected to reach 3 percent in 2025 and 3.1 percent in 2026, while global inflation is expected to continue to decline to 4.2 percent in 2025 and 3.6 percent in 2026.
The average spot price of Brent crude is projected to reach US$62 per barrel in 2025, while the average spot price is expected to decline to US$52 per barrel in 2026, driven by an oversupply of oil relative to global demand.
By the end of Q2 2025, GDP growth at constant prices reached RO 9,363 million, reflecting a 2.1% increase from RO 9,168 million recorded during the same quarter of 2024.
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