Saudi Arabia records $1.54bln in POS transactions in one week UAE non-oil growth hits fastest pace since December 2024, PMI shows Oman’s non-oil exports rise 11.4% to $9.3bln, re-exports jump 20% UAE participates in second G20 Finance Ministers and Central Bank Governors meeting Saudi Arabia and Syria sign 4 pacts to boost cooperation in transport and logistics sectors Geological assets drive mining, manufacturing growth in Fujairah RAK Chamber explores trade, investment opportunities at UAE-Lebanon Business Forum Saudi Arabia agrees to raise Pakistani agricultural and food exports to $3bln UAE investment council launches data tools to boost overseas investment Oman's public revenue rises 13% to $17.2bln in first half of 2026 Saudi Arabia’s construction costs rise 2.3% in July 2026 ADIB provides $37mln Islamic financing for Glasgow logistics hub Oman’s tea and coffee imports hit record highs Total value of Bahraini exports hit $5.04bln Oman: ARA eyes Q3 2027 gas pipeline launch Oman: Sohar International establishes innovation hub at Terminal 11 to support fintech growth Bahrain's Benefit unveils Digital Direct Debit service Saudi: Civil Defense requires third-party insurance for licensing and renewals of certain activities Saudi PIF annualised total shareholder returns fall to 5.8% as some assets lose value Saudi Aramco offers crude outside Hormuz to some Asian refiners, sources say Ten agreements signed to localise electrical transformer component manufacturing in Oman Khareef lifts Salalah Airport passenger arrivals by 8% Fuel tanker grounding: NCEM activated in Oman Oman to develop four industrial cities under Five-Year Development Plan 2026-2030 Saudi Arabia breaks into world’s top 10 for private AI investment: World Bank report Kuwait Petroleum Corporation posts three-year profit high of $6.9bln in FY 25/26 HSBC Private Bank appoints Feras Al Jaramani to lead its UAE Market UAE extends small business relief for corporate tax until December 2029 Saudi business sector surges with 46,900 new companies in 1H 2026 Solar power set for strong growth in Qatar

Log in

عربي

Media Centre

Home » Media Centre

Oman's public debt falls to $37.41bln

Oman's public debt falls to $37.41bln

Oman's public debt falls to $37.41bln

Aug 22, 2024

MUSCAT: At the end of the second quarter of 2024, the public revenue fell by 2 per cent to RO

6,197 million compared to RO 6,342 million registered over the same period of 2023.

This is mainly attributed to the decrease in net gas revenue and current revenue.

By the end of Q2-2024, the Ministry of Finance paid more than RO 558 million to the private

sector. This reflects the payment vouchers received through the e-financial system that completed their documentary cycle.

During the Q2-2024, the government was able to repay a number of outstanding financial

obligations, leading public debt to stand at RO 14.4 billion, compared to RO 16.3 billion recorded at the end of Q2-2023.

According to the fiscal performance bulletin issued by the Ministry of Finance, the following are

the main items of public revenue: Net oil revenue: At the end of Q2, net oil revenue increased by

3 per cent to RO 3,362 million, compared to RO 3,257 million registered over the same period in

2023. The average realised oil price amounted to $82 per barrel and the average volume of oil

production reached 1,003 thousand barrels per day. This is attributed to the methodology of

Energy Development Oman (EDO) for collecting oil revenue and managing cash flow.

Net gas revenue: At the end of Q2, net gas revenue amounted to RO 943 million, decreasing by

15 per cent compared to RO 1,115 million registered over the same period in 2023 due to the

change in the methodology for collecting gas revenue. Current revenue: At the end of Q2, the

current revenue amounted to RO 1,882 million, down by RO 80 million when compared to RO

1,962 million registered in the same period of 2023. Meanwhile, at the end of Q2, the public

spending amounted to RO 5,806 million, up by RO 120 million, i.e. 2 per cent when compared to the same period in 2023.

According to the bulletin, the following are the main items of public spending: Current

expenditure: At the end of Q2, the current expenses of the civil ministries amounted to about RO

4,065 million, a decrease by RO 13 million compared to RO 4,078 million at the end of Q2-2023.