The Qatari Ministry of Finance revealed Qatar's budget for 2022, expecting 204.3 billion riyals ($56.13 billion) to be spent, while the budget recorded a deficit of 8.3 billion riyals ($2.2 billion). The Qatari Minister of Finance Ali Bin Ahmad Al-Kuwari pointed out that "the total estimates of revenues in the fiscal year 2022 budget amount to 196 billion Qatari riyals ($53.8 billion), which represents an increase of 22.4 percent compared to the 2021 budget estimates."
The expected oil revenues amount to about 154 billion riyals (42.3 billion dollars), and the budget is based on an average oil price of 55 dollars per barrel.
Minister Al-Kuwari confirmed that “determining the general budget on the basis of an average oil price of $55 a barrel is due to the remarkable recovery in international energy prices, which still reflects the continuation of adopting conservative estimates of revenues in order to maintain financial balance and limit the effects of oil price fluctuations on the performance of the public finance".
The total planned expenditures in the new budget increased by 4.9 percent from last year to reach 204.3 billion Qatari riyals (56.1 billion dollars) during 2022, while the expected deficit is estimated at 8.3 billion riyals ($2.2 billion).
Source (Asharq Al-Awsat Newspaper, Edited)
