https://arab.news/wps86
- Net oil revenue amounted to 3.02 billion rials
- Current revenue rose 2% year on year to 1.93 billion rials
RIYADH: Oman’s public debt fell 2.08 percent year on year to 14.1 billion rials ($36.7 billion) in the second quarter of 2025, supported by Finance Ministry payments to the private sector.
The ministry disbursed over 749 million Omani rials during the period, with transactions settled within an average of five working days, helping boost liquidity in local markets, the Oman News Agency reported.
The decline in debt highlights Muscat’s ongoing fiscal consolidation drive, supported by higher non-oil revenue and spending discipline.
Fitch Ratings recently affirmed the sultanate’s long-term foreign-currency issuer default rating at BB+ with a positive outlook, citing stronger fiscal tools and an improved debt profile.
Oman’s public revenue by the end of the second quarter totaled 5.84 billion rials, “reflecting a 6 percent decrease from 6.20 billion rials recorded during the same quarter of 2024,” ONA said.
It added: “The decline is largely due to a fall in hydrocarbon revenue.”
Net oil revenue amounted to 3.02 billion rials, a 10 percent decline from 3.36 billion rials a year earlier, reflecting lower average oil prices and production. Net gas revenue fell 6 percent to 884 million rials.
In contrast, current revenue rose 2 percent year on year to 1.93 billion rials.
Public spending reached 6.09 billion rials, up 5 percent from a year earlier, driven mainly by higher development expenditure. Current expenditure stood at 4.12 billion rials, marking a 1 percent decline.
By the end of the quarter, ministries and government units had spent 688 million rials on development projects, accounting for 76 percent of the 900 million rials allocated for the year, reflecting faster progress on ongoing initiatives.
Contributions and other expenses climbed 7 percent year on year to 1.16 billion rials. Subsidy allocations included 339 million rials for the electricity sector, 289 million for the social protection system, and 44 million for fuel support. An additional 200 million rials was directed to the future debt obligations budget.
Spending on social sectors and basic services totaled 3.12 billion rials during the period.