Public
Revenues Decline by 7pc Till end of Q1 2025

Muscat,
27 May (ONA) — The State’s public revenues decreased by 7% to reach RO 2,635
million by the end of Q1 2025 compared to RO 2,826 million recorded during the same quarter of 2024. This decline is primarily
attributed to a reduction in hydrocarbon revenue, according to the Fiscal Performance
bulletin issued by the Ministry of Finance.

Net
oil revenue amounted to RO 1,468 million as of the end of Q1 2025, representing
a 13% decrease from RO 1,688 million collected during the same quarter of 2024.

Net
gas revenue reached RO 436 million as of the end of Q1 2025, reflecting a 2%
decline from RO 444 million recorded in the same quarter of 2024.

Current
revenue stood at RO 725 million as of the end of Q1 2025, indicating a 5%
increase, i.e., RO 34 million, from RO 691 million collected during the same
quarter in 2024.

By
the end of Q1 2025, public spending reached RO 2,771 million, marking a 4%
increase, i.e., RO 107 million, from RO 1,978 million recorded during the same
quarter of 2024. This growth is primarily attributed to increased development
expenditure compared to the same period in 2024.

Moreover,
current expenditure amounted to RO 1,967 million as of the end of Q1 2025,
reflecting a 1% decrease, i.e., RO 11 million, from RO 1,978 million reported
during the same quarter of 2024.

Development
expenditure of the ministries and government units reached RO 254 million as of
the end of Q1 2025, representing 28% of total development expenditure, i.e. RO
900 million, allocated for 2025.

Contribution
and other expenses stood at RO 490 million as of the end of Q1 2025, indicating
a 1% increase, i.e., RO 4 million, from RO 486 million recorded in the same
quarter of 2024.

The
subsidies allocated to the social protection system and oil products amounted
to RO 144 million and RO 27 million, respectively, as of the end of Q1 2025.
Furthermore, RO 100 million was transferred to the future debt obligations
budget item.

By
the end of Q1 2025, spending on social sectors and basic services reached RO 1,668
million.

Moreover,
the Ministry of Finance had paid over RO 304 million to the private sector,
received through the financial system with complete documentation. This
reflects the Ministry’s commitment to settling fully documented private sector
dues within an average of five working days.

Furthermore,
the government repaid several outstanding financial obligations, leading public
debt to stand at RO 14.3 billion by the end of Q1 2025, down from RO 15.1
billion at the end of the same quarter in 2024.

—Ends/AG