Oman’s Revenue Soars, Budget Deficit Narrows in Q1 2026
Oman's public revenue surged by 13% in Q1 2026, reaching 2.985 billion Omani rials, as reported by the finance ministry. Public spending hit 3.010 billion rials, resulting in a narrowed budget deficit of 25 million rials, compared to 136 million rials in the previous year.
In a significant economic development, Oman has reported a 13% increase in public revenue for the first quarter of 2026, reaching 2.985 billion Omani rials. This figure represents a notable rise from the 2.635 billion rials recorded in the same period last year, showcasing the country's robust economic performance.
According to the Ministry of Finance, despite this increase in revenue, public spending also climbed, reaching 3.010 billion rials. The heightened expenditure resulted in a budget deficit of 25 million Omani rials for the quarter. However, this marks a considerable improvement from the 136 million rials deficit recorded in the corresponding period of the prior year.
The exchange rate remains steady with one U.S. dollar equating to 0.3850 Omani rials, providing a stable fiscal environment for future economic planning and growth strategies.
(With inputs from agencies.)
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