Muscat: According to budget estimates, total revenues for 2026 are projected at approximately RO 11.447 billion, calculated on the basis of an average oil price of US$60 per barrel. This marks a 2.4 per cent increase compared to the approved revenues for 2025.
Total public expenditure is estimated at around RO 11.977 billion, reflecting a 1.5 per cent rise over the previous year’s approved spending. As a result, the budget deficit for 2026 is projected at approximately RO 530 million, representing a 14.5 per cent reduction from the 2025 level. The deficit is expected to account for 4.6 per cent of total revenues and 1.3 per cent of gross domestic product (GDP).
Commenting on the broader fiscal performance, His Excellency Sultan bin Salim bin Said Al Habsi, Minister of Finance, said the state’s general budget achieved additional revenues of RO 11.291 billion during the Tenth Five-Year Plan (2021–2025), driven largely by improved oil prices.
He noted that during the same period, social spending increased by RO 2.687 billion, while economic spending rose by RO 3.837 billion, underscoring the government’s focus on development and welfare. In addition, the total approved allocations for all governorates up to the end of 2025 reached RO 983 million, reflecting continued investment in regional development.
He noted that the social protection system support in the 2026 budget has risen to approximately RO 614 million, benefiting more than 1.6 million citizens from these programs.
