Muscat: Emphasizing the government’s commitment to financial sustainability, social services, and price stability, the minister announced a raft of measures designed to keep inflation at 0.6% by the end of 2024, while projecting foreign investments to reach RO 26.677 billion by the close of the year.
According to Al Habsi, Oman’s public revenues for 2025 are estimated at RO 11.180 billion, calculated on an average oil price of USD 60 per barrel and a daily production of around one million barrels. The minister explained that this conservative oil price forecast safeguards the budget from market volatility—especially vital given mounting concerns that customs duties could disrupt global economic growth and affect oil prices. The government’s strategy also allows for maintaining key subsidies on energy and essential commodities, thereby containing price pressures and fostering a stable inflation environment.
On the spending front, the budget outlines a total expenditure of RO 11.80 billion for 2025, maintaining the level of public investment while allocating approximately RO 5 billion to social services—a 4% increase over last year. Al Habsi stressed that this year’s budget approach continues to focus on social welfare, as evidenced by the RO 147 million earmarked to support development across the governorates. Meanwhile, the Housing Bank’s loan portfolio has expanded to over RO 855 million.
