Oman’s 2025 state budget anticipates total revenue of approximately USD 29 billion, reflecting a 1.5% increase over the 2024 estimate. This projection is based on an average oil price of USD 60 per barrel and daily production of 1.001 million barrels. The budget also allocates approximately USD 4.77 billion for public debt repayment.
Preliminary 2024 financial results reveal a surplus of approximately USD 1.4 billion, a significant turnaround from the initially forecasted deficit of USD 1.66 billion. This improvement stems from a 15.1% rise in total revenue, reaching USD 32.93 billion, fueled by higher oil and gas earnings. Net oil revenue surged by 24.3% to USD 19.11 billion, while net gas revenue increased by 14.3% to USD 4.68 billion. Public expenditure for 2024 totaled USD 31.53 billion, and public debt decreased from USD 39.48 billion to USD 37.39 billion, saving USD 285 million in debt servicing costs.
For 2025, current expenditures will comprise 72% of public spending, amounting to approximately USD 22.23 billion. Development and investment spending, including contributions from the Oman Investment Authority, its subsidiaries, and the Oman Energy Development Company, is estimated at USD 11.53 billion. The Governorates Development Program will receive USD 114 million, while USD 129 million is allocated to support private-sector employment initiatives, funded in part by a 1.2% levy on oil and gas purchase invoices.
Key 2025 development projects include completing 20 new government schools and initiating construction for 22 more, finishing 9 government hospitals, expanding the Muscat Expressway, and building additional ports and dams.
