Oman's project spending soars by 37% in H1
Higher expenditure created an actual budget deficit in the first half of this year but allowed the non-OPEC Gulf Sultanate to record real growth of about 2.5 percent.
Total spending increased by around five percent to 6.09 billion Omani rials ($15.8 billion) in the first half of 2025 compared with the first half of 2024.
'The increase in expenditure was mainly a result of a rise in development spending during that period,' the Ministry said in a budget performance report on its website.
The report showed development spending surged by 37 percent to OMR 688 million ($1.7 billion) in the first half of this year, accounting for nearly 76 percent of the budgeted capital expenditure of OMR 900 million ($2.4 billion).
Current expenditures, which involve mainly salaries to public servants, edged up by only around one percent to OMR4.1 billion ($10.6 billion) in the first half of 2025.
Total revenues dipped by around six percent to OMR5.8 billion ($15 billion) after a 10-percent decline in oil export earnings to about OMR3 billion ($7.8 billion). Gas revenues also shrank by six percent to OMR 884 million ($2.3 billion).
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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