Oman announces RO11.977bn budget for 2026

Muscat – Oman’s Ministry of Finance on Thursday announced the State’s General Budget for the 2026 fiscal year alongside the launch of the 11th Five-Year Development Plan.
Public spending for FY2026 is estimated at RO11.977bn, representing a 1.5% increase from the RO11.800bn approved in the 2025 budget.
Public revenue is projected at RO11.447bn, up 2.4% from RO11.180bn in 2025. Of the total revenue, hydrocarbon earnings are estimated at RO7.713bn, while non-hydrocarbon revenues are expected to reach RO3.573bn, with the remainder coming from other sources.
The 2026 budget is based on an average oil price assumption of $60 per barrel.
The budget forecasts a deficit of RO530mn, which represents a 14.5% decline compared to last year. The deficit is equivalent to 4.6% of total estimated revenue and around 1.3% of Oman’s projected gross domestic product.
The shortfall will be financed through withdrawals from reserves amounting to RO400mn and net domestic and external borrowing of RO130mn.
The budget announcement coincided with the launch of Oman’s 11th Five-Year Development Plan (2026–2030), which forms the next phase of implementation of Oman Vision 2040, the Sultanate’s long-term economic strategy.