Oman News Agency
Oman’s gross domestic product (GDP) at constant prices is projected to grow to OR39.43 billion ($102.42 billion) in 2025, up from the anticipated OR38.39 billion in 2024, according to a media report.
The Sultanate recorded a GDP increase of 1.9 percent to OR28.15 billion by the end of the third quarter of 2024, compared to OR27.63 billion a year ago, Oman Observer reported citing a finance ministry’s budget 2025 presentation.
The average price of crude oil is expected to range between $70 and $80 per barrel in 2025, based on projections by top global institutions. Oil revenue remains a cornerstone of the country’s fiscal policy.
The oil sector’s revenue rose to OR9.13 billion by the end of the third quarter of 2024, compared to OR8.88 billion a year ago. The non-oil sector grew to OR20.53 billion from OR19.71 billion in the previous year.
This month Oman estimated a budget deficit of OR620 million in 2025, with total spending likely to reach OR11.8 billion, a 1.5 percent increase year on year.
The government intends to raise OR750 million this year to address the projected budget deficit and service public debt.
Preliminary results for the 2024 budget show a surplus of OR540 million, a turnaround from the previously expected deficit of OR640 million.
Revenues increased by 15 percent to OR12.7 billion, while public spending reached OR12 billion.
