As of the conclusion of April 2024, Oman's public revenues reached over RO 3.744 billion, indicating a 15 percent decline from the previous year's RO 4.392 billion during the same period. This decrease can be primarily attributed to a drop in both oil and non-oil revenues.
According to the financial performance bulletin released by the Ministry of Finance, net oil revenues experienced a 3 percent decrease, totaling RO 2.237 billion by the end of April 2024, compared to RO 2.308 billion in April 2023. The average oil price achieved was $82 per barrel, with an average daily oil production of 1.009 million barrels.
Furthermore, net gas revenues also witnessed a significant decline, dropping by 38 percent to RO 565 million by the end of April 2024, in comparison to the same period in 2023. This decline can be attributed to a change in the methodology for collecting gas revenues.
In terms of current revenues collected until the end of April 2024, there was a decrease of approximately RO 234 million, amounting to RO 938 million, in contrast to the RO 1.172 billion collected during the same period in 2023.
Regarding public spending, it amounted to RO 3.597 billion up until the end of April 2024, reflecting a reduction of RO 275 million or 7 percent compared to the actual spending during the same period in 2023.
The civil ministries' current expenditures experienced a slight rise of approximately RO 4 million by the conclusion of April 2024, reaching a total of RO 2.678 billion. This is in comparison to the RO 2.674 billion recorded in April 2023.
As for the development expenditures of ministries and civil units, they reached around RO 304 million by the end of April 2024. This amount represents a disbursement rate of 34 percent of the total development liquidity allocated for 2024, which is RO 900 million.
Furthermore, the total contributions and other expenditures witnessed a significant surge, reaching about RO 615 million. This marks a 68 percent increase compared to the RO 365 million recorded during the same period in 2023.
In terms of support provided, the social protection system received approximately RO 186 million, while petroleum products and the electricity sector received RO 96 million and RO 83 million respectively. Additionally, transfers to the debt repayment allocation item amounted to RO 133 million.
