Qatar's budget in the fiscal year 2021 recorded a surplus of 1.8 billion riyals, compared to estimates of a deficit of 34.6 billion riyals, calculated on the price of oil at $40 a barrel.
According to figures issued by the Qatari Ministry of Finance, actual revenues at the end of last year amounted to 193.6 billion riyals, an increase of 13.2 percent year on year. This rise was supported by an increase in crude oil and natural gas revenues to 156.3 billion riyals, while actual expenditures increased by 5.2 percent to 191.8 billion riyals. This is as a result of the increase in expenses on World Cup projects, and the increase in spending on major projects to about 68.6 billion riyals.
Last December, Qatar approved the 2022 budget with expected revenues of 196 billion riyals, expenses at 204.3 billion riyals, and a deficit of 8.3 billion riyals, under pressure from the increase in expenses related to hosting the World Cup this year, while calculating the price of a barrel of oil at 55 dollars.
Source (CNBC Arabic Website, Edited)
