Oman has started 2025 with back-to-back fiscal deficits as a result of the fall in oil prices. After recording a $350mn deficit in Q1, its first since 2021, Muscat notched a $320mn deficit in Q2 (see chart).
Lower Oil Prices Hit Oman Government Revenues
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Lower Oil Revenues Pushed Oman Into Its Second Quarterly Deficit In A Row ($bn)
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