Qatar's budget at the end of the first half of 2022 recorded a surplus of 47.3 billion riyals, compared to a surplus of 4 billion riyals in the corresponding period of last year. Data from the Qatari Ministry of Finance showed a growth in public revenues by the end of the first half of this year by 58.3% to reach 150.7 billion riyals, supported by an increase in oil and gas revenues by 67% to more than 117.6 billion riyals.
On the other hand, general expenses increased by 13.6% on an annual basis to 103.6 billion riyals, driven by the increase in expenses on major projects by 17.4% to more than 35.1 billion riyals.
The International Monetary Fund had expected that Qatar's public finances in 2022 would record a surplus of 44.6 billion riyals, which represents about 7% of the total GDP.
The fund estimated that the general revenues of the State of Qatar will record 280 billion riyals this year, compared to expected expenditures of 235 billion riyals. The general budget surplus in the first quarter of this year amounted to 13.6 billion riyals, supported by the growth of oil sector revenues.
Source (CNBC Arabic Website, Edited)
